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These Regulations amend the Recovery of Foreign Taxes Regulations 2007 (S.I. 2007/3507), principally in order to make clear that, if the relevant international arrangements so provide, interest shall be charged on the tax and penalty elements of a foreign claim in the same way as it is charged on a UK income tax debt (regulation 6 in conjunction with regulations 3(3), 3(4) and 4).
The Regulations also (regulation 6 in conjunction with regulation 3(2)) make clear that, where matters fall to be agreed between the Commissioners and the applicant authority, it is in accordance with international arrangements that have effect by virtue of section 173 of the Finance Act 2006.
A full Impact Assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.
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