Following the reduction in the Bank of England base rate, HM Revenue & Customs (HMRC) have confirmed that their interest rates will be reduced accordingly.
Late payment interest will reduce to 7% from 7.25%. Repayment interest – paid on tax repayments – will be reduced to 3.5%.
The change will come into effect from:
-17 February 2025 for quarterly instalment payments.
-25 February 2025 for non-quarterly instalments payments.
See: https://www.gov.uk/government/news/hmrc-late-payment-interest-rates-to-be-revised-after-bank-of-england-lowers-base-rate--2
The Competition and Markets Authority (CMA) has announced a set of proposed measures aimed at increasing fairness, transparency and choice for businesses and consumers using Google’s search services in the UK.
Enterprises that pay business rates are being encouraged to check their current property valuation and make sure the details held by the Valuation Office Agency (VOA) are correct.