# Income Tax Act 2007, Section 888: Statutory interest


The duty to deduct a sum representing income tax under section 874 does not apply to a payment of interest made by virtue of the contractual term implied by section 1(1) of the Late Payment of Commercial Debts (Interest) Act 1998 (c. 20) (statutory interest).

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Source: https://www.legislation.gov.uk/ukpga/2007/3/section/888 (the official version)
Page: https://openlegislation.uk/income-tax-act-2007/section-888
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.