
HMRC have announced a cut in interest rates payable on overdue corporation tax.
New rates of interest, which take effect from 21 April 2008, cover 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 are as follows:
- The rate of interest charged on underpaid instalment payments of corporation tax changes from 6.25 per cent to 6 per cent.
- 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 per cent to 4.75 per cent.
Details of all current interest rates are available on the HMRC website at http://www.hmrc.gov.uk/rates/menu.htm
Please register or log in to add comments.
There are not comments added