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Statutory Instruments

2020 No. 194

Income Tax

The Taxes (Interest Rate) (Amendment) Regulations 2020

Made

27th February 2020

Laid before the House of Commons

2nd March 2020

Coming into force

6th April 2020

The Treasury make the following Regulations in exercise of the powers conferred by section 178(1) and (2)(s) of the Finance Act 1989( 1 ).

Citation and commencement

1. These Regulations may be cited as the Taxes (Interest Rate) (Amendment) Regulations 2020 and come into force on 6th April 2020.

Amendment of the Taxes (Interest Rate) Regulations 1989

2. In regulation 5(1) of the Taxes (Interest Rate) Regulations 1989( 2 ), for “on and after 6th April 2017, be 2.50 per cent per annum” substitute “on and after 6th April 2020, be 2.25 per cent per annum”.

Iain Stewart

Rebecca Harris

Two of the Lords Commissioners for Her Majesty’s Treasury

27th February 2020

( 1 )

1989 c. 26 ; paragraph (s) of section 178(2) was inserted by paragraphs 156 and 162(d) of Schedule 6 to the Income Tax (Earnings and Pensions) Act 2003 (c. 1) .

( 2 )

S.I. 1989/1297 ; relevant amending instruments are S.I. 1994/1307 , 2009/199 and 2017/305 .

Status: This is the original version (as it was originally made).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 2020 (2020/194)

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