# The Insurance Premium Tax (Prescribed Rates of Interest) (Amendment) Order 1996, Note: Explanatory note


(This note is not part of the Order)
This Order increases the prescribed rate of interest for the purposes of paragraph 21 of Schedule 7 to the Finance Act 1994 (c. 9) (interest on insurance premium tax recovered or recoverable by assessment) from 5.5 per cent. to 6.25 per cent. with effect from 6th February 1996.

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Source: https://www.legislation.gov.uk/uksi/1996/166/note (the official version)
Page: https://openlegislation.uk/insurance-premium-tax-prescribed-rates-of-interest-amendment-order-1996/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.