Changes to VAT penalties and interest from 01 January 2023

HMRC late payment interest cut HMRC has reduced late payment and repayment interest rates following the cut to the base rate.The Bank of England cut the base rate to 5.0% on 1 August, the first reduction for over four years.This has triggered a cut in HMRC interest rates which are pegged to the base rate.From…

Budget 2021

HMRC late payment interest cut HMRC has reduced late payment and repayment interest rates following the cut to the base rate.The Bank of England cut the base rate to 5.0% on 1 August, the first reduction for over four years.This has triggered a cut in HMRC interest rates which are pegged to the base rate.From…

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Update on Government schemes in response to COVID-19

HMRC late payment interest cut HMRC has reduced late payment and repayment interest rates following the cut to the base rate.The Bank of England cut the base rate to 5.0% on 1 August, the first reduction for over four years.This has triggered a cut in HMRC interest rates which are pegged to the base rate.From…

Autumn Budget 2017

HMRC late payment interest cut HMRC has reduced late payment and repayment interest rates following the cut to the base rate.The Bank of England cut the base rate to 5.0% on 1 August, the first reduction for over four years.This has triggered a cut in HMRC interest rates which are pegged to the base rate.From…