TaxPersonal TaxInterest rates on corporation tax instalments changed

Interest rates on corporation tax instalments changed

The Inland Revenue has announced new rates of interest for underpaid and overpaid instalment payments of corporation tax.

The rates, in respect of accounting periods ending on or after 1 July 1999, take effect from 13 August 2001.

Underpaid instalments of corporation tax will now attract 6% interest instead of 6.25% and the overpaid instalments rate, and on corporation tax paid early (but not due by instalments), has decreased from 5% to 4.47%.

Links

Inland Revenue announcement

Inland Revenue website

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