30 August 2022
On 30 August 2022 the interest rate on overpaid (credit interest) and underpaid (debit interest) tax will change. This is often called use of money interest, or UOMI.
The new rates are:
- debit interest - 7.96% (up from 7.28%)
- credit interest - 1.22% (up from 0%).
We review the rates regulalry to make sure they align with market interest rates.
Last updated: 29 Aug 2022