2001 No. 204
The Taxes (Interest Rate) (Amendment No. 1) Regulations 2001
Made
Laid before the House of Commons
Coming into force
The Treasury, in exercise of the powers conferred on them by section 178 of the Finance Act 19891, hereby make the following Regulations:
Citation and commencement1
These Regulations may be cited as the Taxes (Interest Rate) (Amendment No. 1) Regulations 2001 and shall come into force on 6th March 2001.
Interpretation2
In these Regulations “the principal Regulations” means the Taxes (Interest Rate) Regulations 19892 and “regulation” means a regulation of the principal Regulations.
Amendments to the principal Regulations
3
In regulation 3(1)(a)3 for the words “sections 86 and 88” substitute “section 86 (except where regulation 3AA(1)(aa) applies) and section 88”.
4
In regulation 3AA(1)—
a
after paragraph (a) insert the following paragraph—
aa
section 86 of the Taxes Management Act 19704 as it has effect in relation to accounting periods of companies ending before 1st October 1993 (interest on unpaid assessed corporation tax),
b
for the words “be 6.25 per cent. per annum” substitute—
be—
- i
where paragraph (aa) above applies, 6.5 per cent. per annum;
- ii
in all other cases, 6.25 per cent. per annum.
(This note is not part of the Regulations)