Following the latest increase in the Bank of England base rate to 1.75%, HMRC will raise interest rates on late tax bills by 0.5% This means that the late payment interest rate will increase to 4.25% from 23 August 2022. The rate last increased to 3.75%...
Read MoreFollowing the increase in the Bank of England base rate to 1.25% earlier this week, HMRC has confirmed that it will raise interest rates on late tax bills by a further 0.25% This means that the late payment interest rate will increase to 3.75% from 5...
Read MoreThe base rate has been increased by 0.25% to 1.25% in the third rise this year following the latest meeting of the Bank of England The decision on the rate rise was opposed by three members of the monetary policy committee who argued for a 0.5%...
Read MoreThe government has confirmed that student loan interest rates will remain at 7.3% from September 2022 Normally interest increases in line with inflation, but the current 9% rate would have seen student loan rates rise to 12% while the base rate is only 1.25%. A rise in...
Read MoreHMRC has increased its late payment interest rates to 0.75% after the Bank of England increased their base rates The tax authority revised its interest rates for late payments after the Bank of England (BoE) increased the base rate from 0.5% to 0.75%. HMRC confirmed that the...
Read MoreThe Monetary Policy Committee voted by a majority of 5-4 to increase #BankRate to 0.5% and voted unanimously to begin to reduce the amount of quantitative easing. Find out more in our #MonetaryPolicyReport: https://www.bankofengland.co.uk/monetary-policy-report/2022/february-2022...
Read MoreThe Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 15 December 2021, the MPC voted by a majority of 8-1 to...
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