Interest rates change from time to time along with market rates. The following table shows interest periods and rates since October 1988. You can use this information to calculate how much interest is due on an Inheritance Tax payment by using the Inheritance Tax interest calculator. You can pay your Inheritance Tax in yearly instalments. If you pay too much Inheritance Tax in advance, HMRC will refund any excess money to you plus interest on the amount you’ve overpaid. This rate of interest is displayed in the interest on repayments column in the following table:
Interest periodInterest rate (%)Interest on repayments (%)Days 20 August 2024 to present7.50%4.00%— 22 August 2023 to 19 August 20247.75%4.25%363 11 July 2023 to 21 August 20237.5%4%42 31 May 2023 to 10 July 20237%3.5%41 13 April 2023 to 30 May 20236.75%3.25%48 21 February 2023 to 12 April 20236.5%3%51 6 January 2023 to 20 February 20236%2.5%46 22 November 2022 to 5 January 20235.50%2%45 11 October 2022 to 21 November 20224.75%1.25%42 23 August 2022 to 10 October 20224.25%0.75%49 5 July 2022 to 22 August 20223.75%0.5%48 24 May 2022 to 4 July 20223.50%0.5%41 5 April 2022 to 23 May 20223.25%0.5%48 21 February 2022 to 4 April 20223%0.5%43 7 January 2022 to 20 February 20222.75%0.5%45 7 April 2020 to 6 January 20222.60%0.5%640 30 March 2020 to 6 April 20202.75%0.5%8 21 August 2018 to 29 March 20203.25%0.5%587 21 November 2017 to 20 August 20183%0.5%273 23 August 2016 to 20 November 20172.75%0.5%455 29 September 2009 to 22 August 20163%0.5%2,520 24 March 2009 to 28 September 20090%0%189 27 January 2009 to 23 March 20091%1%56 6 January 2009 to 26 January 20092%2%21 6 November 2008 to 5 January 20093%3%61 6 January 2008 to 5 November 20084%4%305 6 August 2007 to 5 January 20085%5%153 6 September 2006 to 5 August 20074%4%334 6 September 2005 to 5 September 20063%3%365 6 September 2004 to 5 September 20054%4%365 6 December 2003 to 5 September 20043%3%275 6 August 2003 to 5 December 20032%2%122 6 November 2001 to 5 August 20033%3%638 6 May 2001 to 5 November 20014%4%184 6 February 2000 to 5 May 20015%5%455 6 March 1999 to 5 February 20004%4%337 6 October 1994 to 5 March 19995%5%1,612 6 January 1994 to 5 October 19944%4%273 6 December 1992 to 5 January 19945%5%396 6 November 1992 to 5 December 19926%6%30 6 July 1991 to 5 November 19928%8%489 6 May 1991 to 5 July 19919%9%61 6 March 1991 to 5 May 199110%10%61 6 July 1989 to 5 March 199111%11%608 6 October 1988 to 5 July 19899%9%273