The Taxes and Duties, etc (Interest Rate) Regulations, SI 2011/2446, set out the interest rate setting formulae for late payment interest and for repayment interest.
The regulations will apply ‘whenever the new harmonised interest regime [introduced by FA 2009 ss 101-105] is applied to any tax or duty administered by HMRC’. They replicate the interest rate formulae within SI 2010/1879, but apply generally under the terms of SI 2011/2401, HMRC said.
The Taxes and Duties, etc (Interest Rate) Regulations, SI 2011/2446, set out the interest rate setting formulae for late payment interest and for repayment interest.
The regulations will apply ‘whenever the new harmonised interest regime [introduced by FA 2009 ss 101-105] is applied to any tax or duty administered by HMRC’. They replicate the interest rate formulae within SI 2010/1879, but apply generally under the terms of SI 2011/2401, HMRC said.
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