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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.

Interest on overpayments and underpayments

Last updated: 29 Aug 2022
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