HMRC interest rates

HMRC interest rates

New rates of interest on direct and indirect taxes and National Insurance contributions paid late and overpaid have been announced. The new rates take effect from 6 September 2005.
The rate of interest charged on income tax National Insurance capital gains tax stamp duty and stamp duty reserve tax paid late tax credits overpayments in cases of fraud and neglect and on penalties charged and on tax charged by an assessment for the purpose of making good to the Crown a loss of tax wholly or partly attributable to failure or error by the taxpayer changes from 7.5% to 6.5%.
The rate of interest on overpaid income tax National Insurance capital gains tax stamp duty and stamp duty reserve tax (repayment supplement) changes from 3% to 2.25%.
The rate of interest on late...