# The Finance Act 1985 (Interest on Tax) (Prescribed Rate) (No.2) Order 1991

S.I. 1991/1078 · made 25 April 1991

This Order reduces from 11.50 per cent. to 10.75 per cent. theprescribed rate of interest for the purposes of section 18 of theFinance Act 1985 (interest on tax etc recovered or recoverable byassessment).

Made under: Finance Act 1985 (Section 18)

## Introductory text

VALUE ADDED TAX
Made 25th April 1991
Laid before Parliament 29th April 1991
Coming into force 6th May 1991
The Treasury, in exercise of the power conferred on them by section18(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 1991 and shall come into force on 6th May1991.

## 2 

For the purposes of subsections (1), (3) and (6) of section 18 ofthe Finance Act 1985 the prescribed rate shall be 10.75 per cent.

## Signature

Irvine Patnick
Sydney Chapman
Two of the Lords Commissioners of Her Majesty’s Treasury
25th April 1991

## Explanatory note

(This note is not part of the Order)
This Order reduces from 11.50 per cent. to 10.75 per cent. theprescribed rate of interest for the purposes of section 18 of theFinance Act 1985 (interest on tax etc recovered or recoverable byassessment).

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Source: https://www.legislation.gov.uk/uksi/1991/1078 (the official version)
Page: https://openlegislation.uk/finance-act-1985-interest-on-tax-prescribed-rate-no2-order-1991
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.