# The Insurance Premium Tax (Prescribed Rates of Interest) Order 1994

S.I. 1994/1819 · made 8 July 1994

This Order, which comes into force on 1st October 1994, prescribes the rates of interest for the purposes of paragraph 21 of Schedule 7 to the Finance Act 1994 (interest on tax etc.) and paragraph 22 of that Schedule (interest payable by Commissioners).

Made under: Finance Act 1994 (Section 74, Schedule 7 paragraph 21, Schedule 7 paragraph 22)

## Introductory text

INSURANCE PREMIUM TAX
Made 8th July 1994
Laid before the House of Commons 11th July 1994
Coming into force 1st October 1994
The Treasury, in exercise of the powers conferred on them by section 74(1) of, and paragraphs 21(5) and 22(2) of Schedule 7 to, the Finance Act 1994and of all other powers enabling them in that behalf, hereby make the following Order:

## 1 

This Order may be cited as the Insurance Premium Tax (Prescribed Rates of Interest) Order 1994 and shall come into force on 1st October 1994.

## 2 

For the purposes of paragraph 21 of Schedule 7 to the Finance Act 1994 the prescribed rate shall be 5.5 per cent. per annum.

## 3 

For the purposes of paragraph 22 of Schedule 7 to the Finance Act 1994 the prescribed rate shall be 8 per cent. per annum.

## Signature

Tim Wood
Timothy Kirkhope
Two of the Lords Commissioners of Her Majesty’s Treasury
8th July 1994

## Explanatory note

(This note is not part of the Order)
This Order, which comes into force on 1st October 1994, prescribes the rates of interest for the purposes of paragraph 21 of Schedule 7 to the Finance Act 1994 (interest on tax etc.) and paragraph 22 of that Schedule (interest payable by Commissioners).

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Source: https://www.legislation.gov.uk/uksi/1994/1819 (the official version)
Page: https://openlegislation.uk/insurance-premium-tax-prescribed-rates-of-interest-order-1994
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.