Interest on taxation
HMRC cut the rate of interest on underpaid Income tax, NIC, CGT, Stamp duty and certain other taxes from 3.5% to 2.5% as of 23 March. For underpaid corporation tax the rate was reduced from 2.5% to 2% as of 16 February and from 2% to 1.5% from 16 March
The rate of interest on overpaid Income Tax, NIC, CGT, stamp duty and certain other taxes remains unchanged at 0%. For overpaid and early paid corporation tax, the rate fell from 1.25% to 0.75% as of 16 February and from 0.75% to 0.25% as of 16 March.