If tax is unpaid after the due date for payment (¶183-205 above), interest becomes payable at the rate fixed by Treasury order under the Taxes (Interest Rate) Regulations 1989 (SI 1989/1297), reg. 4.

From 29 September 2009, interest charged on late payments of inheritance tax will be the Bank of England base rate plus 2.5%. From the same date, the interest rate on overpayments is the Bank of England rate minus 1, subject to a minimum rate of 0.5% on repayments.

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