The Taxes (Interest Rate) (Amendment) Regulations 1991

• Citation: S.I. 1991/889
• Sections: 4

Section 1 Citation and commencement

These Regulations may be cited as the Taxes (Interest Rate)(Amendment) Regulations 1991 and shall come into force on 6th April1991.

Section 2 Interpretation

In these Regulations“the Principal Regulations ” means the Taxes (Interest Rate) Regulations 1989 .

Section 3 Amendments to the Principal Regulations

For regulation 5 of the Principal Regulations there shall besubstituted—

Applicable rate of official rate of interest

(5) For the purpose of section 160 of the Income and Corporation TaxesAct 1988 the rate applicable under section 178 shall, on andafter 6th April 1991, be 13.5 per cent. per annum.

Section 4 Amendments to the Principal Regulations

In regulation 6 of the Principal Regulations for“3(1), 4(1) or 5(1)” there shall be substituted“3(1) or 4(1)”.