Following the increase in the bank base rate to 1.75%, the HMRC repayment interest rate will increase this month to 0.75%. The interest rate charged on late payments is set at base rate plus 2.5%. Repayment interest is set at base rate minus 1%, with a lower limit – or ‘minimum floor’ – of 0.5%. The latest Bank of England rate increase therefore takes the repayment interest rate over the minimum 0.5% for the first time since December 2008.
Capital grants 2026 opens for applications
Defra has announced today that the Capital Grants 2026 scheme is now open for new applications. The scheme provides funding for a
30 July 2026
