# The Taxes and Duties (Interest Rate) (Amendment) Regulations 2009, Regulation 9: Amendment of regulation 3B


(1) Amend regulation 3B as follows.
(2) In paragraph (2) for the words from “percentage” to the end substitute—
“higher of—
(a) 0.5% per annum, and
(b) the percentage per annum found by applying the formula specified in paragraph (3).”.
(3) For paragraph (3) substitute—
“(3) The formula specified in this paragraph is—
RR−1, where RR is the reference rate referred to in paragraph (2).”.

---
Source: https://www.legislation.gov.uk/uksi/2009/2032/regulation/9 (the official version)
Page: https://openlegislation.uk/taxes-and-duties-interest-rate-amendment-regulations-2009/regulation-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.