Companies

Interest rates

HMRC have announced new rates of interest for quarterly instalment payments and early payments of corporation tax not due by instalments, in respect of accounting periods ending on or after 1 July 1999. The new rates take effect from 16 July 2007.
The rate of interest charged on underpaid instalment payments of corporation tax changes from 6.50% to 6.75%. 
The rate of interest on overpaid instalment payments of corporation tax, and on corporation tax paid early (but not due by instalments) changes from 5.25% to 5.50%.

The Oxford University Centre for Business Taxation is holding a two-day conference, 'Corporation tax: battling with boundaries' on 28 and 29 June at the Said Business School, Oxford. A host of speakers and panellists will be attending and these include Judith Freedman, Dave Hartnett and Edward Troup. Further information can be found on www.sbs.ac.uk/tax/.

And finally …

The Real Finance/CBI FDs' Excellence Award for Government agency of the year has been awarded to HMRC (VAT services). The Excellence Awards are for companies that have provided services to UK businesses. Finance directors vote for their chosen organisation and HMRC (VAT services) won in the Government agency category. Congratulations!