H<\/p>\n\n\n\n
The rate of tax interest on corporation tax assessments will return fully to its previous level of 8% with effect from 1 January 2022.<\/p>\n\n\n\n
If you still owe income tax or corporation tax for 2020 and have not yet filed your tax return, or if you have not applied for a provisional assessment at the correct rate, we advise you to apply for a (further) provisional assessment from the Tax and Customs Administration as soon as possible. This is particularly important for corporation tax assessments, as you can then avoid a high rate of tax interest (8%) applicable from 31 December 2021.<\/p>\n\n\n\n
From 1 July 2021, the Tax and Customs Administration will charge tax interest on any outstanding income tax and corporation tax for 2020. If your tax assessments have not yet been finalised or have not been set at a sufficiently high level, please take action as soon as possible.<\/p>\n\n\n\n
If an application for a provisional corporation tax assessment is submitted before 1 November, it is expected that the assessment will be issued before 31 December 2021.<\/p>\n\n\n\n