The Bank of England Monetary Policy Committee voted unanimously to increase the Bank of England base rate to 0.75% (2 August 2018).
HMRC interest rates are linked to the Bank of England base rate and, as a consequence of the change, HMRC interest rates for late payment will be increased.
These changes will come into effect on:
- 13 August 2018 for quarterly instalment payments
- 21 August 2018 for non-quarterly instalment payments
Repayment interest rates remain unchanged.