Revenue Scotland and Tax Powers Act 2014 section 218

Interest on penalties

Section 218 establishes that interest is charged on any penalty that remains unpaid after its due date, and specifies how that interest is calculated.

• Interest accrues on any penalty amount that has not been paid by its due date
• Interest runs from the date the penalty becomes due until the date it is actually paid
• The interest rate used is the rate set under section 220 of the Act
• The longer a penalty remains unpaid, the more interest will accumulate