HMRC Interest Rates & ‘Time To Pay’: Self Assessment

HMRC Interest Rates 12th January 2024

The forthcoming Self Assessment payment date of 31st January 2024 is looming. HMRC last increased the late payment and repayment interest rates on 22nd August 2023 and this applies to the main taxes and duties that HMRC currently charges and pays interest as follows:


  • Late payment interest rate — 7.75%


  • Repayment interest rate — 4.25%



Can’t Pay Your Bill In Full?

If you cannot pay your tax bill in full contact HMRC as soon as possible. Additionally you may be able to set up a payment plan to pay it in instalments. This is called a ‘Time to Pay’ arrangement. This can also be set up online subject to the amount you owe.


The link to HMRC setting up a payment plan is below:



Get In Touch

For more information or advice, contact your local Whitings LLP office today.


Disclaimer - All information in this post was correct at time of writing.
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