- Bank of England reduced interest rate from 5.25% to 5% on 1 August 2024
- HMRC updated its interest rate tables to reflect the decrease
- Changes will affect late VAT payments and repayments
- Effective dates for changes are 12 August 2024 for quarterly instalment payments and 20 August 2024 for non-quarterly instalment payments
Source: deeksvat.co.uk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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