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The Taxes (Interest Rate) (Amendment) Regulations 2000

S.I. 2000/893 · Made 29 March 2000

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

INCOME TAX

INHERITANCE TAX

TAXES

Made 29th March 2000

Laid before the House of Commons 29th March 2000

Coming into force 19th April 2000

The Treasury, in exercise of the powers conferred on them by section 178 of the Finance Act 1989f1, hereby make the following Regulations:

Annotations to the whole text

Footnotes

f1

1989 c. 26: section 178 was amended by paragraph 44 of Schedule 19 to the Finance Act 1994 (c. 9).

Contents

  1. 1Regulation 1
  2. 2Regulation 2
  3. Signature
  4. Explanatory note

1

These Regulations may be cited as the Taxes (Interest Rate) (Amendment) Regulations 2000 and shall come into force on 19th April 2000.

2

(1)

In regulation 3ZA(4) of the Taxes (Interest Rate) Regulations 1989f1 for “RR+2” substitute “RR+1”.

(2)

Paragraph (1) has effect on and after 20th April 2000 in relation to interest running from before that day as well as interest running from, or from after, that day.

Signature

Jim Dowd

Bob Ainsworth

Two of the Lords Commissioners of Her Majesty’s Treasury

29th March 2000

Explanatory note

(This note is not part of the Regulations)

These Regulations amend the Taxes (Interest Rate) Regulations 1989 by providing for a reduction of 1 per cent. in the rate of interest payable by large companies on underpayments of corporation tax under the arrangements for quarterly instalment payments.