# The Taxes and Duties, etc (Interest Rate) Regulations 2011, Regulation 3: Late payment interest rate

Extent: E+W+S+N.I.

(1) Except where regulation 5 applies, the late payment interest rate for the purposes of section 101 of the Finance Act 2009 (late payment interest on sums due to HMRC), is the percentage per annum found by applying the following formula—
Bank of England rate + 4.
(2) The interest rate found under paragraph (1) applies on and after the operative date.

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Source: https://www.legislation.gov.uk/uksi/2011/2446/regulation/3 (the official version)
Page: https://openlegislation.uk/taxes-and-duties-etc-interest-rate-regulations-2011/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.