ITR deadline extended: Taxpayers may earn more interest, but government could face higher refund burden
Wednesday, 28 May 2025 The extension of the ITR filing deadline to September 15, 2025, may increase the government's interest liability on tax refunds, calculated from April 1st. Taxpayers filing by the extended deadline are still eligible for interest, but delaying may not significantly benefit them. Experts suggest early filing to expedite refunds, despite the government's manageable interest burden.
Chancellor Rachel Reeves has welcomed the cut to interest rates announced by the Bank of England. Interest rates have gone from 4.5% to 4.25%. Ms Reeves said: "We have had four interest rate cuts now..
Wednesday, 28 May 2025
![Chancellor welcomes interest rate cut [Video]](https://video.newsserve.net/300/v/20250508/1410218508-Chancellor-welcomes-interest-rate-cut.jpg)
