The following provisions apply to interest under paragraph 22(2) or 23(4).

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.

Interest is payable at the rate prescribed under section 178 of the [1989 c. 26.] Finance Act 1989 for the purposes of section 15A of the [1891 c. 39.] Stamp Act 1891 (interest on late stamping).

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.

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.