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 Disclosure and Barring Service (DBS) has launched a new weekly podcast series, ‘DBS discussions: Safeguarding in Focus,’ aimed at employers, HR teams and anyone working in safeguarding.
HM Revenue & Customs has started using GOV.UK One Login for taxpayers signing up to its digital services for the first time.