Commentary

A4.634 Interest on overpaid tax and tax paid early—corporation tax: credit interest for tax paid early

Administration and compliance

A4.634 Interest on overpaid tax and tax paid early—corporation tax: credit interest for tax paid early

A4.634 Interest on overpaid tax and tax paid early—corporation tax: credit interest for tax paid early

Credit interest is paid to companies on tax which is paid before the normal due date (nine months and one day after the end of the accounting period)1. For the special provisions which apply to large companies and very large companies, see A4.633.

The rates of interest payable are based on the official Bank of England base rate (RR) as determined by the Monetary Policy Committee of the Bank of England (see A4.630 for full details)2. The rate is RR – 0.25, subject to a

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