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Due to Bank of England's Base Rate Increase
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The Bank of England recently increased the base rate, a key determinant in interest rates.
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This decision impacts the HMRC late payment interest rates, which will now be revised.
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The new interest rates will apply to late payments and repayments of corporation tax, VAT and other taxes.
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All businesses should take note of these changes and plan their finances accordingly.
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Stay updated with the latest tax information and regulations by visiting the HMRC website.