Interest Rates and the Payment of Inheritance Tax
With respect to my recent posts on interest rates for late paid inheritance tax, the latest increase to 4.75% will be effective from 11 October 2022.
The rate has consistently risen throughout 2022 from a low of 2.60% immediately before 30 March 2022. As things stand, we may realistically consider that rate to rise to over 5% in the short term. Anyone relying on an instalment option for the payment of inheritance tax should review their plans given that the cost of their arrangements are likely to effectively have doubled by November.HMRC’s latest figures may be found at: