The last adjustment to the interest rates that apply for late payments of income tax and NICs was in December 2003. The rates are increasing from 6 September to reflect recent increases in market rates.

The rate of interest is increased from 6.5% to 7.5%. The rate paid on overpaid tax and NICs is increased to 3.5%.

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...back to 13 August 2004


Sources:
www.gnn.gov.uk/environment/detail.asp?ReleaseID=126348