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Inland Revenue

Tax Policy

PUBLISHED 23 June 2009

More on UOMI rate changes

Yesterday's announcement of changes made to the use of money interest rates for overpayments and underpayments of tax have resulted in a number of requests for more information on how the rates are set. The special report published here explains both the policy background of the rates and the formulas used for setting them – including the new method for setting the underpayment rate.