- Latest available (Revised)
- Original (As enacted)
Taxes Management Act 1970
You are here:
- UK Public General Acts
- 1970 c. 9
- PART IX
- Section 89
What Version
Opening Options
More Resources
Status:
This is the original version (as it was originally enacted).
89The prescribed rate of interest
(1)In this Part of this Act " the prescribed rate" means—
(a)for the purposes of sections 86 and 87 above, the rate specified in column 2 of the Table below,
(b)for the purposes of section 88 above, the rate specified in column 3 of the Table below.
TABLE
| 1 | 2 | 3 |
|---|---|---|
| Interest for any period | For the purposes of section 86 or 87 above | For the purposes of section 88 above |
| before 19th April 1967 | 3 per cent. | 3 per cent. |
| after 18th April 1967 and before 19th April 1969 | 4 per cent. | 4 per cent. |
| after 18th April 1969 | 6 per cent. | 4 per cent. |
The references in column 1 of this Table to any period before or after a specified date apply whether or not interest continues to run after that period, or, as the case may be, runs from before that period.
(2)The Treasury may, by order in a statutory instrument subject to annulment in pursuance of a resolution of the Commons House of Parliament, from time to time increase or decrease any rate or rates of interest prescribed by subsection (1) above, either for the purposes of all the provisions of this Part of this Act, or so as to prescribe different rates for different purposes.
(3)Any variation of the rate of interest prescribed under subsection (2) above shall apply to interest for periods beginning on or after the date when the order is expressed to come into force, whether or not interest runs from before that date.
Options/Help
Print Options
PrintThe Whole Act
PrintThe Whole Part
PrintThis Section only
Legislation is available in different versions:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Opening Options
Different options to open legislation in order to view more content on screen at once
More Resources
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as enacted version that was used for the print copy
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- correction slips
- links to related legislation and further information resources
More Resources
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as enacted version that was used for the print copy
- correction slips
Click 'View More' or select 'More Resources' tab for additional information including:
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- links to related legislation and further information resources
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.