# The Finance Act 1985 (Interest on Tax) (Prescribed Rate) Order 1991

S.I. 1991/348 · made 26 February 1991

This Order reduces from 12.25 per cent to 11.50 per cent 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)

## Introductory text

VALUE ADDED TAX
Made 26th February 1991
Laid before Parliament 1st March 1991
Coming into force 6th March 1991
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 1991 and shall come into force on 6th March 1991.

## 2 

For the purposes of subsections (1), (3) and (6) of section 18 of the Finance Act 1985 the prescribed rate shall be 11.50 per cent.

## Signature

Thomas Sackville
Sydney Chapman
Two of the Lords Commissioners of Her Majesty’s Treasury
26th February 1991

## Explanatory note

(This note is not part of the Order)
This Order reduces from 12.25 per cent to 11.50 per cent 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.

---
Source: https://www.legislation.gov.uk/uksi/1991/348 (the official version)
Page: https://openlegislation.uk/finance-act-1985-interest-on-tax-prescribed-rate-order-1991
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.