Interest rates for VAT, customs and excise duties
Rates of interest due to, and payable by, the Treasury in relation to the following taxes:
- VAT
- Machine Games Duty
- Soft Drinks Industry Levy
- Plastic Packaging Tax
Late Payment Interest
Aapplies to VAT periods starting on or after 1 January 2023, and Machine Games Duty, Soft Drinks Industry Levy and Plastic Packaging Tax from 1 February 2023.
Default Interest
Applies to VAT periods starting on or before 31 December 2022.
| Period when rate applies | Interest Rate |
|---|---|
| 22-08-2023 – forward | 7.75% per annum |
| 11-07-2023 – 21-08-2023 | 7.5% per annum |
| 31-05-2023 – 10-07-2023 | 7% per annum |
| 13-04-2023 – 30-05-2023 | 6.75% per annum |
| 21-02-2023 – 12-04-2023 | 6.5% per annum |
| 01-02-2023 – 20-02-2023 | 6% per annum |
| 01-06-2021 – 31-01-2023 | 5.1% per annum |
| 01-02-2009 – 31-05-2021 | 5.0% per annum |
Repayment Interest
Applies to VAT periods starting on or after 1 January 2023, and Machine Games Duty, Soft Drinks Industry Levy and Plastic Packaging Tax from 1 February 2023.
Repayment Supplement
Applies to VAT periods starting on or before 31 December 2022.
| Period when rate applies | Interest Rate |
|---|---|
| 22-08-2023 – forward | 4.25% per annum |
| 11-07-2023 – 21-08-2023 | 4% per annum |
| 31-05-2023 – 10-07-2023 | 3.50% per annum |
| 13-04-2023 – 30-05-2023 | 3.25% per annum |
| 21-02-2023 – 12-04-2023 | 3% per annum |
| 01-02-2023 – 20-02-2023 | 2.5% per annum |
| 01-01-2012 – 31-01-2023 | 0.5% per annum |
