HM Revenue & Customs interest rates – Quarterly instalment payments, and early payments of corporation tax not due by instalments

New rates of interest have been announced. They cover quarterly instalment payments and early payments of corporation tax not due by instalments, in respect of accounting periods ending on or after 1 July 1999. These new rates of interest, which take effect from 22 January 2007, are set out below and are a result of the recent movement in market rates.

The rate of interest charged on underpaid instalment payments of corporation tax changes from 6 per cent to 6.25 per cent. The rate of interest on overpaid instalment payments of corporation tax, and on corporation tax paid early (but not due by instalments) changes from 4.75 per cent to 5 per cent.

For further information please visit – www.hmrc.gov.uk

(Article sourced from the Government Office for London)