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HRMC increase interest rates
HMRC

HMRC increase interest rates on late tax bills

HMRC increase interest rates on late tax bills From 5 July, HMRC will increase interest rates on late tax bills. This follows the Bank of England’s decision to raise the base rate to 1.25%. Furthermore, HMRC confirmed that interest rates will rise by a further 0.25% on late tax bills. As a result, late payment interest

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HMRC

Retirees hit with unexpected tax bills following pension withdrawals

Under the pension freedom rules, introduced in 2015, anyone over the age of 55 is able to withdraw as much cash as they like, whenever they like, from their retirement savings. In the last three months of 2020, nearly £26million was reclaimed from HMRC in pension savings however, many savers are unaware that they may

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