OpenLegislation

Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Order)

This Order appoints 1st September 2025 as the day on which the interest regime set out in section 101 of the Finance Act 2009 (c. 10) on late payment interest comes into force for the purposes of alcohol duty. Section 101 has already been brought into force for other purposes.

Section 101 applies late payment interest to any sum due by virtue of an enactment to His Majesty’s Revenue and Customs but paid late.

The current applicable rate in respect of late payment interest is set out in the Taxes and Duties, etc (Interest Rate) Regulations 2011 (S.I. 2011/2446). These Regulations were made in exercise of the powers conferred by section 103 of the Finance Act 2009.

A Tax Information and Impact Note has not been prepared for this instrument as it gives effect to previously announced policy and is an appointed day order.