The Stamp Duty Reserve Tax (Amendment) Regulations 1989

• Citation: S.I. 1989/1301
• Sections: 5

Section 1 Citation and commencement

These Regulations may be cited as the Stamp Duty Reserve Tax (Amendment) Regulations 1989 and shall come into force on 18th August 1989.

Section 2 Interpretation

In these regulations“the Principal Regulations ” means the Stamp Duty Reserve Tax Regulations 1986 .

Section 3 Amendments to the Principal Regulations

In regulation 11(1) of the Principal Regulations for the words“appropriate rate” there shall be substituted–

“rate applicable under section 178 of the Finance Act 1989 ”.

Section 4 Amendments to the Principal Regulations

In Part I of the Schedule to the Principal Regulations–

(a) in the second column of the Table in the modifications alongside“86(1)” in the first column after the words““charged by an assessment”” there shall be added“; for the words“prescribed rate” substitute“rate applicable under section 178 of the Finance Act 1989 for the purposes of section 92(2) of the Finance Act 1986 ””;

(b) in the first column of the Table“89(1)(3)”, and in the second column the modifications alongside“89(1)(3)”, shall be omitted.

Section 5 Amendments to the Principal Regulations

In Part II of the Schedule to the Principal Regulations–

(a) for subsection (1) of section 86 of the Taxes Management Act 1970 (as modified) there shall be substituted–

(1) Any tax to which this section applies shall carry interest at the rate applicable under section 178 of the Finance Act 1989 for the purposes of section 92(2) of the Finance Act 1986 from the accountable date until payment.

(b) section 89 of the Taxes Management Act 1970 shall be omitted.