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The Finance Act 1985 (Interest on Tax) (Prescribed Rate) Order 1990

S.I. 1990/523 · Made 7 March 1990

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

VALUE ADDED TAX

Made 7th March 1990

Laid before the House of Commons 9th March 1990

Coming into force 1st April 1990

The Treasury, in exercise of the power conferred on them by section 18(8) of the Finance Act 1985f1, hereby make the following Order:

Annotations to the whole text

Footnotes

f1

1985 c. 54

Contents

  1. 1Article 1
  2. 2Article 2
  3. Signature
  4. Explanatory note

1

This Order may be cited as the Finance Act 1985 (Interest on Tax) (Prescribed Rate) Order 1990 and shall come into force on 1st April 1990.

2

For the purposes of sections 18(1), 18(3) and 18(6) of the Finance Act 1985f1 the prescribed rate shall be 13 per cent.

Signature

Stephen Dorrell

John M Taylor

Two of the Lords Commissioners of Her Majesty’s Treasury

7th March 1990

Explanatory note

(This note is not part of the Order)

This Order sets 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).