- Bank of England reduced the official Bank Rate by 0.25 percentage points to 4.25%
- HMRC announced a 0.25 point decrease in interest rates for late tax payments and tax repayments
- New rates effective from 19 May 2025 for quarterly corporation tax payments
- New rates effective from 28 May 2025 for most other tax payments
- HMRC will update interest rate tables soon
Source: taxscape.deloitte.com
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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