# The Taxes (Interest Rate) (Amendment) Regulations 2005

S.I. 2005/2462 · made 5 September 2005

These Regulations amend the Taxes (Interest Rate) Regulations 1989 (S.I. 1989/1297: “the principal Regulations) to add provisions about interest rates in connection with stamp duty land tax, chargeable under Part 4 of the Finance Act 2003 (“Part 4”).

Made under: Finance Act 1989 (Section 178)

PDFs: Printed copy https://openlegislation.uk/taxes-interest-rate-amendment-regulations-2005/pdf/uksi_20052462_en.pdf; Explanatory Memorandum https://openlegislation.uk/taxes-interest-rate-amendment-regulations-2005/pdf/uksiem_20052462_en.pdf

## Introductory text

STAMP DUTY LAND TAX
Made 5th September 2005
Laid before the House of Commons 5th September 2005
Coming into force 26th September 2005
The Treasury, in exercise of the power conferred upon them by section 178 of the Finance Act 1989, make the following Regulations:

## 1 Citation and commencement

These Regulations may be cited as the Taxes (Interest Rate) (Amendment) Regulations 2005 and shall come into force on 26th September 2005.

## 2 Amendment of the Taxes (Interest Rate) Regulations 1989

The Taxes (Interest Rate) Regulations 1989 shall be amended as follows.

## 3 Amendment of the Taxes (Interest Rate) Regulations 1989

(1) Amend regulation 3(1) (applicable rates of interest on unpaid tax, tax repaid and repayment supplement) as follows.
(2) At the end of sub-paragraph (c) omit “and”.
(3) At the end of sub-paragraph (d) add “; and”.
(4) After that sub-paragraph add—
“(e) sections 87 and 88 of the Finance Act 2003.”.

## 4 Amendment of the Taxes (Interest Rate) Regulations 1989

(1) Amend regulation 3AB(1) as follows.
(2) At the end of sub-paragraph (d) omit “and”.
(3) At the end of sub-paragraph (e) add “; and”.
(4) After that sub-paragraph add—
“(f) section 89 of the Finance Act 2003.”.

## Signature

Tom Watson
Joan Ryan
Two of the Lords Commissioners of Her Majesty’s Treasury
5th September 2005

## Explanatory note

(This note is not part of the Regulations)
These Regulations amend the Taxes (Interest Rate) Regulations 1989 (S.I. 1989/1297: “the principal Regulations) to add provisions about interest rates in connection with stamp duty land tax, chargeable under Part 4 of the Finance Act 2003 (“Part 4”).
Regulation 1 provides for the citation and commencement of these Regulations.
Regulation 2 introduces the amendments to the principal Regulations.
Regulation 3 amends regulation 3 of the principal Regulations to apply the interest rate calculated in accordance with it, to—
(a) amounts of unpaid stamp duty land tax in accordance with section 87 of the Finance Act 2003; and
(b) penalties imposed under Part 4.
Regulation 4 amends regulation 3AB of the principal Regulations to apply the interest rate calculated in accordance with it to repayments of tax and penalties paid under Part 4.

---
Source: https://www.legislation.gov.uk/uksi/2005/2462 (the official version)
Page: https://openlegislation.uk/taxes-interest-rate-amendment-regulations-2005
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.