To ask the Chancellor of the Exchequer, if she will review the adequacy of the 7.75% rate of interest chargeable on unpaid income tax after each January deadline.
Late payment interest is charged whenever tax is paid late or paid where amounts have been overpaid.The interest charged ensures people aren’t encouraged to overpay their tax to secure a higher interest rate than available commercially. It also ensures th...
Unpaid Taxes: Interest Rates