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

S.I. 1990/523 · made 7 March 1990

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).

Made under: Finance Act 1985 (Section 18)

PDFs: Printed copy https://openlegislation.uk/finance-act-1985-interest-on-tax-prescribed-rate-order-1990/pdf/uksi_19900523_en.pdf

## Introductory text

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 1985, hereby make the following Order:

## 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 1985 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).

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Source: https://www.legislation.gov.uk/uksi/1990/523 (the official version)
Page: https://openlegislation.uk/finance-act-1985-interest-on-tax-prescribed-rate-order-1990
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.