{
  "url": "https://openlegislation.uk/taxes-interest-rate-amendment-regulations-2026/note",
  "json_url": "https://openlegislation.uk/taxes-interest-rate-amendment-regulations-2026/note.json",
  "legislation": "uksi/2026/347",
  "legislation_title": "The Taxes (Interest Rate) (Amendment) Regulations 2026",
  "legislation_url": "https://openlegislation.uk/taxes-interest-rate-amendment-regulations-2026",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nThese Regulations amend the Taxes (Interest Rate) Regulations 1989/1297 (“1989 Regulations”). The 1989 regulations specify rates of interest for the purposes of the enactments specified in section 178(2) of the Finance Act 1989 (c. 26). The amendments made by these Regulations specify the applicable rates of interest for unpaid and overpaid amounts of multinational top-tax and domestic top-up tax.\nMultinational top-up tax was introduced by Part 3 of the Finance (No. 2) Act 2023 (c. 30).\nDomestic top-up tax was introduced by Part 4 of the Finance (No. 2) Act 2023 (c. 30).\nRegulation 2 inserts new regulations 3ZF and 3ZG which specify the interest rate applicable under section 178 of the Finance Act 1989 (c. 26) in relation to unpaid and overpaid multinational top-up tax and domestic top-up tax.\nA Tax Information and Impact Note covering this instrument was published on 15th March 2023 entitled ‘Multinational top-up tax and Domestic top-up tax: UK adoption of OECD Pillar 2’ alongside the Autumn Finance Bill 2023, and is available on the government website at https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins. It remains an accurate summary of the impacts that apply to this instrument.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2026/347/note",
    "retrieved_at": "2026-10-28T21:03:29.780940+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."
}