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News

HMRC late payment interest rates to be revised April 2023

The Bank of England Monetary Policy Committee announced on 23 March 2023 to increase the Bank of England base rate to 4.25% from 4%.

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 and repayment will increase.

These changes will come into effect on:

  • 3 April 2023 for quarterly instalment payments
  • 13 April 2023 for non-quarterly instalments payments

For further information please select the following link HMRC late payment interest rates to be revised after Bank of England increases base rate - GOV.UK (www.gov.uk) 

Managing your finances

A vital part of running a successful business is looking after your finances. For further information please select the following link Managing your finances | Business Wales (gov.wales)

Understanding your finances

On completion of this course Course: Understanding Your Finances (gov.wales) you will be able to:

  • Recognise the different types of costs in running your business.
  • Identify simple mechanisms for controlling fixed and variable costs.
  • Calculate the costs of producing your product or service.

Unlock even more support from Business Wales. Sign up for your free Sign on Cymru (SOC) account today! 


 


Business Wales Helpline

03000 6 03000

Lines are open 10am to 4pm Monday to Friday.

Rydym yn croesawu galwadau’n Gymraeg.
We welcome calls in Welsh.