UK HMRC has announced the revision of late payment and repayment interest rates following the base rate cut by the Bank of England from 4.5% to 4.25% on 8 May 2025. From 6 April 2025, late payment interest is set at the base rate plus 4.0% (previously plus 2.5%) and repayment interest is set at the base rate minus 1%, with a lower limit (minimum rate) of 0.5%. With the latest cut in the base r…