# The Tax Collection and Management (Administration) (Wales) Regulations 2017, Regulation 6: Late payment interest rate


The late payment interest rate for the purposes of section 157 of the TCM Act is the percentage per annum found by applying the following formula—
Bank of England rate + 2.5

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Source: https://www.legislation.gov.uk/wsi/2017/1022/regulation/6 (the official version)
Page: https://openlegislation.uk/tax-collection-and-management-administration-wales-regulations-2017/regulation-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.