New HMRC Interest Rates
New rates of interest on direct and indirect taxes and national insurance contributions paid late and overpaid will take effect from 6 November.
HMRC has announced a rate change from 7.5% to 6.5% on late payments under the following tax heads:
- income tax,
- national insurance contributions,
- capital gains tax, stamp duty,
- stamp duty land tax
- stamp duty reserve tax paid late,
- tax credits overpayments in cases of fraud, neglect
- penalties charged
- a loss of tax wholly or partly attributable to failure or error by the taxpayer.
The rate of interest on overpaid income tax, national insurance contributions, capital gains tax, stamp duty, stamp duty land tax and stamp duty reserve tax (repayment supplement) changes from 3.00 per cent to 2.25 per cent.
For detail on other rate changes to more tax heads please see
