New formula for interest on late payment
In future, when we owe them money it will be bank base rate +2.5%. When they owe us money it's bank base -1%. Seems fair.
http://www.taxationweb.co.uk/tax-new...e-formula.html
And don't expect to be let off the hook if someone has died either.
http://www.telegraph.co.uk/finance/p...increased.html
Anyway, bottom line of all this is that interest on late payment is due to rise from 2.5% to 3% from next month.
In future, when we owe them money it will be bank base rate +2.5%. When they owe us money it's bank base -1%. Seems fair.
http://www.taxationweb.co.uk/tax-new...e-formula.html
And don't expect to be let off the hook if someone has died either.
http://www.telegraph.co.uk/finance/p...increased.html
Anyway, bottom line of all this is that interest on late payment is due to rise from 2.5% to 3% from next month.
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