The Value Added Tax (Postal Packets and Amendment) (EU Exit) Regulations 2018

Interest

26.—(1) If an amount assessed under regulation 25 is not paid before the end of the period of 30 days beginning with the day on which notice of the assessment is given, the amount assessed carries interest from the day on which the notice of assessment is given until payment.

(2) Interest under this regulation is payable at the rate applicable under section 197 of the Finance Act 1996(1).

(3) Where the marketplace operator of an online marketplace is liable for interest under this regulation the Commissioners may assess the amount due and notify it to the marketplace operator.

(4) A notice of assessment under this regulation must specify a date (not later than the date of the notice) to which the interest is calculated.

(5) A further assessment or assessments may be made under this regulation in respect of any interest accrued after that date.

(6) An amount of interest assessed and notified to the marketplace operator of an online marketplace under this regulation is recoverable as if it were VAT due from the marketplace operator (unless, or except to the extent that, the assessment is withdrawn or reduced).

(1)

1996 c. 8. There are amendments to section 197 but none are relevant to these Regulations.