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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Regulations)

These Regulations amend the Non-Domestic Rating (Payment of Interest) Regulations 1990, which deal with entitlement to and calculation of interest on sums overpaid by way of non-domestic rates.

The principal changes are:

(1)

to deal with interest on the amount finally determined after a review of, or appeal against, the decision of a valuation and community charge tribunal (regulation 3(5));

(2)

to amend the method of determining the appropriate rate of interest (regulation 4); and

(3)

to amend the formula by reference to which the amount of interest is calculated (regulation 5).