Do you owe an outstanding tax payment? HMRC have published new interest rates that apply to both money taxpayers owe in tax and money owed by HMRC. It will come as no surprise that the penalty for underpayment (now at 3.0%) cotinues to outweigh the benefit for overpayment (0.5%). The new rates apply from 29th September apart from that applying to quarterly Corporation Tax payments which changed on 21st September.

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