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Statutory Instruments

2023 No. 216

Income Tax

The Taxes (Interest Rate) (Amendment) Regulations 2023

Made

27th February 2023

Laid before House of Commons

28th February 2023

Coming into force

6th April 2023

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 2023 and come into force on 6th April 2023.

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 2021, be 2.00 per cent per annum” substitute “on and after 6th April 2023, be 2.25 per cent per annum” .

Amanda Solloway

Scott Mann

Two of the Lords Commissioners of His Majesty’s Treasury

27th February 2023

( 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 2021/249 .

1. Citation and Commencement

2. Amendment of the Taxes (Interest Rate) Regulations 1989

Status: This is the original version (as it was originally made).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 2023 (2023/216)

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