The Taxes (Interest Rate) (Amendment) Regulations 2007

• Citation: S.I. 2007/684
• Sections: 3

Section 1

These Regulations may be cited as the Taxes (Interest Rate) (Amendment) Regulations 2007 and shall come into force on 6th April 2007.

Section 2

For regulation 5(1) of the Taxes (Interest Rate) Regulations 1989 substitute—

(1) For the purposes of section 181 of the Income Tax (Earnings and Pensions) Act 2003 (“section 181”) the rate applicable under section 178 shall, on and after 6th April 2007 and subject to paragraph (2), be 6.25 per cent. per annum.

Section 3

In regulation 5(2) for “section 160” substitute “section 181”.