# Finance Act 2004, Paragraph 14


(1) Amount A arises if paragraph (a) of section 179(2) (interest rate to be not less than prescribed amount) is not complied with.
(2) Amount A is—
where—
IR is the rate of interest payable at the relevant time,
PIR is the rate of interest prescribed by regulations under that paragraph, and
AO is the amount owing (not including interest) at the relevant time.

---
Source: https://www.legislation.gov.uk/ukpga/2004/12/schedule/30/paragraph/14 (the official version)
Page: https://openlegislation.uk/finance-act-2004/schedule-30/paragraph-14
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.