The statutory rates of interest applied by Revenue to delayed payments of taxation and underpayments by taxpayers are amended by Finance Bill 2009
The current daily rate applicable on late tax payments of income tax, corporation tax capital gains tax, gift tax and inheritance tax is reduced from 0.0273% to 0.0219% and for fiduciary taxes such as PAYE the rate reduces from 0.0322% to 0.274% with effect from 1 July 2009.