The Finance Act 1985 (Interest on Tax) (Prescribed Rate) (No.2) Order 1991

Made25th April 1991

Laid before Parliament29th April 1991

Coming into force6th May 1991

The Treasury, in exercise of the power conferred on them by section18(8) of the Finance Act 19851, hereby make the following Order:

1

This Order may be cited as the Finance Act 1985 (Interest on Tax)(Prescribed Rate) (No.2) Order 1991 and shall come into force on 6th May1991.

2

For the purposes of subsections (1), (3) and (6) of section 18 ofthe Finance Act 1985 the prescribed rate shall be 10.75 per cent.

Irvine PatnickSydney ChapmanTwo of the Lords Commissioners of Her Majesty’s Treasury25th April 1991

(This note is not part of the Order)

This Order reduces from 11.50 per cent. to 10.75 per cent. theprescribed rate of interest for the purposes of section 18 of theFinance Act 1985 (interest on tax etc recovered or recoverable byassessment).