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Ask the Tutor ACCA TX-UK

Overpaid tax

Nnayaz7y ago
Hello Sir, if tax has been overpaid, will the taxpayer need to pay or receive 0.5% interest from HMRC? Kind regards.
TTTax Tutor7y ago#1
The taxpayer will receive that interest from HMRC but if the taxpayer has underpaid then interest must be paid to HMRC at a rate of 2.75%
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