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Statutory Instruments

2009 No. 199

Income Tax

The Taxes (Interest Rate) (Amendment) Regulations 2009

Made

4th February 2009

Laid before the House of Commons

5th February 2009

Coming into force

1st March 2009

The Treasury make the following Regulations in exercise of the powers in section 178(1) and (2)(s) of the Finance Act 1989( 1 ) and section 181(2) of the Income Tax (Earnings and Pensions) Act 2003( 2 ):

Citation and commencement

1. These Regulations may be cited as the Taxes (Interest Rate) (Amendment) Regulations 2009 and shall come into force on 1st March 2009.

Amendment of the Taxes (Interest Rate) Regulations 1989

2. —(1)Regulation 5 of the Taxes (Interest Rate) Regulations 1989( 3 ) is amended as follows.

(2) For paragraph (1) substitute—

“ (1) Subject to paragraph (2), the rate applicable under section 178 for the purposes of Chapter 7 of Part 3 of the Income Tax (Earnings and Pensions) Act 2003(“Chapter 7”) shall, on and after 1st March 2009, be 4.75 per cent per annum. ” .

(3) In paragraph (2) for “section 181” substitute “Chapter 7”.

Tony Cunningham

Frank Roy

Two of the Lords Commissioners of Her Majesty’s Treasury

4th February 2009

( 1 )

1989 c. 26 . Paragraph (s) of subsection (2) of section 178 was inserted by paragraph 162(d) of Schedule 6 to the Income Tax (Earnings and Pensions) Act 2003.

( 2 )

2003 c. 1 .

( 3 )

S. I. 1989/1297 ; relevant amending instruments are S. I. 1994/1307 , 1994/1567 and 2007/684 .

Status: This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
The Taxes (Interest Rate) (Amendment) Regulations 2009 (2009/199)

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