# The Finance Act 1985 (Interest on Tax) (Prescribed Rate) (No. 2) Order 1993

S.I. 1993/3168 · made 16 December 1993

This Order reduces the prescribed rate of interest for the purposes of section 18 of the Finance Act 1985 (interest on tax etc.recovered or recoverable by assessment) from 6.25 per cent.to 5.50 per cent. with effect from 6th January 1994.

Made under: Finance Act 1985 (Section 18)

## Introductory text

VALUE ADDED TAX
Made 16th December 1993
Laid before the House of Commons 17th December 1993
Coming into force 6th January 1994
The Treasury, in exercise of the power conferred on them by section 18(8) of the Finance Act 1985, hereby make the following Order:

## 1 

This Order may be cited as the Finance Act 1985 (Interest on Tax) (Prescribed Rate) (No.2) Order 1993 and shall come into force on 6th January 1994.

## 2 

For the purposes of subsections (1), (3) and (6) of section 18 of the Finance Act 1985 the prescribed rate shall be 5.50 per cent.

## Signature

Tim Wood
Andrew Mackay
Two of the Lords Commissioners of Her Majesty’s Treasury
16th December 1993

## Explanatory note

(This note is not part of the Order)
This Order reduces the prescribed rate of interest for the purposes of section 18 of the Finance Act 1985 (interest on tax etc.recovered or recoverable by assessment) from 6.25 per cent.to 5.50 per cent. with effect from 6th January 1994.

---
Source: https://www.legislation.gov.uk/uksi/1993/3168 (the official version)
Page: https://openlegislation.uk/finance-act-1985-interest-on-tax-prescribed-rate-no-2-order-1993
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.