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Interest Rates for Late and Overpaid Taxes - Increase effective 6 August 2007
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Interest is charged by HMRC when income tax and NICs are paid late, and credited when they are overpaid. New interest rate have been announced and take effect from 6 August 2007.
The rate of interest charged on income tax and NICs paid late increase from 7½% to 8½%. The rate paid on overpaid tax and NICs rises from 3% to 4%.
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Further information:
HM Revenue & Customs interest rates
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