TCM4000 Reference Section Inland Revenue Rates and Allowances
Interest Rates

Interest Rate on Late Payments From 06/03/1999 From 06/02/2000 From 06/05/2001 From 06/11/2001
Income Tax, NIC & CGT 7.5% 8.5% 7.5% 7%
Corporation Tax Pay & File 5.8% 6.8% 6% 5%
Corporation Tax Pre-Pay & File 5.8% 6.5% 5.8% 5%
CTSA, From normal due date 7.5% 8.5% 7.5% 7%
Inheritance Tax, CTT & Estate Duty 4% 5% 4% 3%
         
Interest Rate on Repayments From 06/03/1999 From 06/02/2000 From 06/05/2001 From 06/11/2001
Income Tax, NIC & CGT 3% 4% 3.5% 2.5%
Corporation Tax Pay & File 2.75% 3.5% 2.75% 2%
Corporation Tax Pre-Pay & File 5.75% 6.5% 5.75% 5%
CTSA, From normal due date 4% 5% 4% 3%
Inheritance Tax, CTT & Estate Duty 4% 5% 4% 3%

Other CTSA Interest Rates applying up to the normal due date
From To Interest charged on underpaid quarterly instalment payments Interest paid on overpaid quarterly instalment payments and on early payments of Corporation Tax not due by instalments.
19/11/2001 5% 3.75%
15/10/2001 18/11/2001 5.5% 4.25%
01/10/2001 14/10/2001 5.75% 4.5%
13/08/2001 30/09/2001 6% 4.75%
21/05/2001 12/08/2001 6.25% 5%
16/04/2001 20/05/2001 6.5% 5.25%
19/03/2001 15/04/2001 6.75% 5.5%
19/02/2001 18/03/2001 6.75% 5.5%
20/04/2000 18/02/2001 7% 5.75%
21/02/2000 19/04/2000 8% 5.75%
24/01/2000 20/02/2000 7.75% 5.5%
15/11/1999 23/01/2000 7.5% 5.25%
20/09/1999 14/11/1999 7.25% 5%
21/06/1999 19/09/1999 7% 4.75%
19/04/1999 20/06/1999 7.25% 5%
15/02/1999 18/04/1999 7.5% 5.25%
18/01/1999 14/02/1999 8% 5.75%
01/01/1999 17/01/1999 8.25% 6%

Source: HM Government Inland Revenue