Interest Rate Updates
To accommodate the unprecedented number of interest rate changes since September, Tax Computer Systems have made an update to the Alphatax software. For full details on the update and to download the latest interest rates, please click here and follow the instructions. The most recent changes to HMRC interest rates include:
- CTSA, From normal due date. Underpayment rates down from 4.5% to 3.5% with overpayment rates down from 1.0% to 0%, effective 27 January 2009.
- Other CTSA Interest rates. Quarterly instalment payments (QIPS) underpayment rates down from 3.0% to 2.5% with overpayment rates down from 1.75% to 1.25%, effective 19 January 2009.