Matt Harris
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Appearances Over Time
Podcast Appearances
And here's the best bit, right?
On shark rates.
Yeah, yeah.
Eddie the Eagle should get involved in this.
Yeah, yeah, yeah.
Here's the best bit though.
If you've overpaid them, right, they only pay 2.25%.
That's a great business model.
Government is an iconic business model.
So then on top of that, right, so that's bad enough just in itself if you think about the cost of even a 20 grand tax bill over a year.
Remember, it's compounding like all good interest rates.
You have what are called late payment penalties.
So these obviously penalise you for paying late.
So when you pay late, when you miss by one day,
you get 1% charged.
Then you have a seven day grace period and this is designed to make you want to pay between day one overdue and day seven overdue.
Once you get past that, 4%.
Okay, so then you've got quite a large penalty imposed.
Then every month thereafter, 1%.
of additional penalty interest.