# The Value Added Tax Act 1994 (Interest on Tax)(Prescribed Rate) Order 1996

S.I. 1996/165 · made 31 January 1996

This Order lowers from 7 per cent. per annum to 6.25 per cent. per annum the prescribed rate of interest for the purposes of section 74 of the Value Added Tax Act 1994 (interest on VAT recovered or recoverable by assessment).

Made under: Value Added Tax Act 1994 (Section 74)

## Introductory text

VALUE ADDED TAX
Made 31st January 1996
Laid before the House of Commons 31st January 1996
Coming into force 6th February 1996
The Treasury, in exercise of the powers conferred on them by section 74(6) of the Value Added Tax Act 1994 and of all other powers enabling them in that behalf, hereby make the following Order:

## 1 

This Order may be cited as the Value Added Tax Act 1994 (Interest on Tax) (Prescribed Rate) Order 1996 and shall come into force on 6th February 1996.

## 2 

For the purposes of section 74 of the Value Added Tax Act 1994 the prescribed rate shall be 6.25 per cent. per annum.

## Signature

Simon Burns
Derek Conway
Two of the Lords Commissioners of Her Majesty’s Treasury
31st January 1996

## Explanatory note

(This note is not part of the Order)
This Order lowers from 7 per cent. per annum to 6.25 per cent. per annum the prescribed rate of interest for the purposes of section 74 of the Value Added Tax Act 1994 (interest on VAT recovered or recoverable by assessment).

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Source: https://www.legislation.gov.uk/uksi/1996/165 (the official version)
Page: https://openlegislation.uk/value-added-tax-act-1994-interest-on-taxprescribed-rate-order-1996
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.