Bank of England cuts Bank Rate to 0.25%

The Bank of England Monetary Policy Committee voted unanimously on 4 August to cut the Bank of England base rate to 0.25%.

HMRC interest rates are linked to the Bank of England base rate.

As a consequence of the change in the base rate, HMRC interest rates for late payment will be reduced.

These changes will come into effect on:

• 15 August 2016 for quarterly instalment payments
• 23 August 2016 for non-quarterly instalment payments

Repayment interest rates remain unchanged.

Information on the interest rates for late payments will be updated shortly.