http://www.legislation.gov.uk/uksi/1991/1120/regulation/2/made

The Taxes (Interest Rate) (Amendment) (No. 2) Regulations 1991

Tax

King's Printer of Acts of Parliament

2011-07-04

INCOME TAX

INHERITANCE TAX

TAXES

These Regulations amend with effect from 6th May 1991 the provisionof the Taxes (Interest Rate) Regulations 1989 (S.I. 1989/1297), asamended by the Taxes (Interest Rate) (Amendment) Regulations 1991 (S.I.1991/889), which specifies the official rate of interest for thepurposes of section 160 of the Income and Corporation Taxes Act 1988(c.1) (taxation of beneficial loans made to employees). The officialrate of interest also determines the“appropriate percentage” for the purposes of the additional charge to tax in respect ofcertain living accommodation provided for employees under section 146 ofthe 1988 Act. The amendments substitute a new official rate of interest(12.75 per cent. per annum) for the rate of 13.5 per cent. per annumspecified by S.I. 1991/889.