20.—(1) This paragraph applies if the Inland Revenue make a determination under regulation 80 (determination of unpaid tax) which relates to tax payable for a tax year ending on or before 5th April 1992.
(2) This paragraph also applies if—
(a)the inspector, at any time after 19th April 1988, made a determination under regulation 49 of the 1993 Regulations (determination of tax payable by employer),
(b)the determination relates to tax payable for a tax year ending on or before 5th April 1992, and
(c)tax remains payable pursuant to the determination immediately before the commencement of these Regulations.
(3) The tax payable pursuant to the determination carries interest at the prescribed rate from the relevant start date until payment (“the interest period”).
(4) Sub-paragraph (3) applies even if the relevant start date is a non-business day as defined by section 92 of the Bills of Exchange Act 1882(1).
(5) Any change made to the prescribed rate during the interest period applies to the tax payable pursuant to the determination from the date of change.
(6) Regulation 84 (recovery of tax and interest) applies to an amount of interest which an employer is liable to pay under this paragraph as if it were the unpaid amount for the purposes of that regulation.
(7) Paragraphs (3) and (6) of regulation 218 (certificate of interest due) apply in relation to an amount which an employer is liable to pay under this paragraph as if this paragraph were a regulation included among those listed in paragraph (4) of that regulation.
(8) Regulation 219 (payment by cheque) applies for determining when a payment is made for the purposes of this paragraph as if this paragraph were included among the provisions listed in paragraph (2) of that regulation.
(9) In this paragraph—
“inspector” means an inspector of taxes;
“the prescribed rate” means the rate applicable under section 178 of the Finance Act 1989(2) for the purposes of section 86 of TMA;
“the relevant start date” means—
in a case where the determination relates to tax payable for a tax year ending on or before 5th April 1988, 19th April 1988, and
in a case where the determination relates to tax payable for a tax year ending after 5th April 1988 but on or before 5th April 1992, the 14th day after the end of the tax year to which the determination relates.
1882 c. 61; section 92 was amended by sections 3(1) and 4(4) of the Banking and Financial Dealings Act 1971 (c. 80).
1989 c. 26, to which there are amendments not relevant to these Regulations.