# The Registered Pension Schemes (Accounting and Assessment) Regulations 2005, Regulation 7: Adjustments, repayments and interest on tax overpaid


(1) If the correct tax due under section 254 of the Act has not been paid on or before the due date or if an amended return is made under regulation 6, an officer of Revenue and Customs may make such adjustments or repayments as may be required for securing that the resulting liabilities to tax (including interest on unpaid or overpaid tax) whether of the scheme administrator or of any other person are the same as they would have been if the correct tax had been paid or if a correct return had been made.
(2) Tax overpaid which is repaid to the scheme administrator or any other person carries interest at the prescribed rate from the later of the due date and the date on which the tax was paid until the date of repayment (“the interest period”).
(3) The “prescribed rate” means the rate applicable under section 178 of the Finance Act 1989 for the purposes of section 824 of the Income and Corporation Taxes Act 1988.
(4) Any change made to the prescribed rate during the interest period applies to the overpaid amount from the date of the change.

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Source: https://www.legislation.gov.uk/uksi/2005/3454/regulation/7 (the official version)
Page: https://openlegislation.uk/registered-pension-schemes-accounting-and-assessment-regulations-2005/regulation-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.