The Taxes (Interest Rate) (Amendment) Regulations 2009 No. 199

Amendment of the Taxes (Interest Rate) Regulations 1989

2.—(1) Regulation 5 of the Taxes (Interest Rate) Regulations 1989(1) is amended as follows.

(2) For paragraph (1) substitute—

“(1) Subject to paragraph (2), the rate applicable under section 178 for the purposes of Chapter 7 of Part 3 of the Income Tax (Earnings and Pensions) Act 2003 (“Chapter 7”) shall, on and after 1st March 2009, be 4.75 per cent per annum.”.

(3) In paragraph (2) for “section 181” substitute “Chapter 7”.

(1)

S. I. 1989/1297; relevant amending instruments are S. I. 1994/1307, 1994/1567 and 2007/684.