{
  "url": "https://openlegislation.uk/taxes-and-duties-etc-interest-rate-regulations-2011/regulation-4",
  "json_url": "https://openlegislation.uk/taxes-and-duties-etc-interest-rate-regulations-2011/regulation-4.json",
  "legislation": "uksi/2011/2446",
  "legislation_title": "The Taxes and Duties, etc (Interest Rate) Regulations 2011",
  "legislation_url": "https://openlegislation.uk/taxes-and-duties-etc-interest-rate-regulations-2011",
  "path": "regulation/4",
  "kind": "regulation",
  "number": "4",
  "heading": "Repayment interest rate",
  "text": "(1) Except where regulation 5 applies, the repayment interest rate for the purposes of section 102 of the Finance Act 2009 (repayment interest on sums to be paid by HMRC), is the higher of—\n(a) 0.5% per annum; and\n(b) the percentage per annum found by applying the following formula—\nBank of England rate – 1.\n(2) The interest rate found under paragraph (1) applies on and after the operative date.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 4 in force at 31.10.2011, see reg. 1"
    },
    {
      "type": "footnote",
      "label": "f1",
      "text": "See footnote (d) on page 1."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2011/2446/regulation/4",
    "retrieved_at": "2026-10-29T01:53:33.708784+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}