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Sam
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Category: Tax
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I may be late paying some of my corporation tax bill, due by

Resolved Question:

I may be late paying some of my corporation tax bill, due by 30th June 2014.

What would be the daily interest payment applied to the part of the tax bill that was paid after 30th June?
Submitted: 3 years ago.
Category: Tax
Expert:  Sam replied 3 years ago.
HI

Thanks for your question

Yes interest is charged from the first day the payment is late which sits at 3% currently

Link here for details
http://www.hmrc.gov.uk/rates/interest.htm

Thanks
Sam


Customer: replied 3 years ago.

Is it 3% per calendar day?


 


Did the interest rate drop to 0.5|% - there are two rates posted on HMRC's website

Expert:  Sam replied 3 years ago.
Hi

Thanks for your response
3% is the daily rate - the 0.5 applies to repayments made to you by HMRC (so if they owe you a refund)


Thanks

Sam

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