HMRC late payment and repayment interest rates increase

Following the change to the Bank of England bank rate, Her majesty’s Revenue and Customs (HMRC) will be increasing interest rates.

From 23 August 2022, the rates will be:
Late payment interest – 4.25%
Repayment interest – 0.75%
Up to that date the rates will be 3.75% and 0.5% respectively.