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UK tax authority reduces late payment interest rate to 7%, benefiting late-paying taxpayers.
The UK's tax authority, HMRC, will reduce late payment interest rates for taxpayers from 7.25% to 7% starting February 17, following the Bank of England's base rate cut.
This change benefits around 1.1 million self-assessment taxpayers who missed the January deadline.
However, critics argue that HMRC still charges twice as much interest on overdue payments compared to what it pays on tax refunds.
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La autoridad tributaria del Reino Unido reduce la tasa de interés de pago tardío al 7 %, beneficiando a los contribuyentes que pagan con retraso.