# The Finance Act 1985 (Interest on Tax) (Prescribed Rate) Order 1992

S.I. 1992/2745 · made 2 November 1992

This Order reduces from 9.25 per cent. to 7.75 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 2nd November 1992
Laid before the House of Commons 3rd November 1992
Coming into force 6th November 1992
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 1992 and shall come into force on 6th November 1992.

## 2 

For the purposes of subsections (1), (3) and (6) of section 18 of the Finance Act 1985 the prescribed rate shall be 7.75 per cent.

## Signature

Irvine Patnick
Tim Wood
Two of the Lords Commissioners of Her Majesty’s Treasury
2nd November 1992

## Explanatory note

(This note is not part of the Order)
This Order reduces from 9.25 per cent. to 7.75 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).

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Source: https://www.legislation.gov.uk/uksi/1992/2745 (the official version)
Page: https://openlegislation.uk/finance-act-1985-interest-on-tax-prescribed-rate-order-1992
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.