Explanatory note

The Order appoints 6th April 2018 as the day on which the interest regime set out in sections 101 and 102 (including Schedules 53 and 54) of the Finance Act 2009 and the penalties regimes in Schedule 55 and 56 of that Act come into force in relation to soft drinks industry levy which is charged in accordance with Part 2 of the Finance Act 2017. The interest regime also comes into force on that day in relation to penalties assessed in relation to soft drinks industry levy.

The current applicable rates of interest are set out in the Taxes and Duties, etc (Interest Rate) Regulations 2011.

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