The Air Passenger Duty and Other Indirect Taxes (Interest Rate) Regulations 1997

• Citation: S.I. 1997/1016
• Sections: 3

Section 1 Citation and commencement

These Regulations may be cited as the Air Passenger Duty and Other Indirect Taxes (Interest Rate) Regulations 1997 and shall come into force on 1st April 1997.

Section 2 Applicable rate of interest payable to the Commissioners of Customs and Excise in connection with air passenger duty, insurance premium tax, VAT recovered or recoverable by assessment and landfill tax.

For the purposes of—

(a) paragraph 7 of Schedule 6 to the Finance Act 1994 ,

(b) paragraph 21 of Schedule 7 to that Act,

(c) section 74 of the Value Added Tax Act 1994 , and

(d) paragraph 26 of Schedule 5 to the Finance Act 1996,the rate applicable under section 197 of the Finance Act 1996 shall be 6.25 per cent. per annum.

Section 3 Applicable rate of interest payable by the Commissioners of Customs and Excise in connection with air passenger duty, insurance premium tax, cases of official error in relation to VAT and landfill tax

On the coming into force of these Regulations, for the purposes of—

(a) paragraph 9 of Schedule 6 to the Finance Act 1994,

(b) paragraph 22 of Schedule 7 to that Act,

(c) section 78 of the Value Added Tax Act 1994, and

(d) paragraph 29 of Schedule 5 to the Finance Act 1996,the rate applicable under section 197 of the Finance Act 1996 shall be 6 per cent. per annum.