SCHEDULES
C1SCHEDULE 15 Stamp duty: bearer instruments
Annotations:
Modifications etc. (not altering text)
Part III Supplementary provisions
Supplementary provisions as to interest
24
1
The following provisions apply to interest under paragraph 22(2) or 23(4).
2
If an amount is lodged with the Commissioners in respect of the duty, the amount on which interest is payable is reduced by that amount.
3
4
The amount of interest shall be rounded down (if necessary) to the nearest multiple of £5.
No interest is payable if the amount is less than £25.
5
The interest shall be paid without any deduction of income tax and shall not be taken into account in computing income or profits for any tax purposes.
Sch. 15 modified (27.7.1999 with effect as mentioned in s. 113(4) of 1999 c. 16) by 1988 c. 39, s. 143(4)(a) (as inserted (27.7.1999 with effect as mentioned in s. 113(4) of the amending Act) by 1999 c. 16, s. 113(3), Sch. 16 para. 11)