Explanatory Note

(This note is not part of the Regulations)

These Regulations make provision concerning the rate of interest applying to certain amounts payable to the Commissioners for His Majesty’s Revenue and Customs (“HMRC”).

Regulation 2 amends various provisions of the Taxes (Interest Rate) Regulations 1989 (S.I. 1989/1297).

Regulation 3 amends regulation 4(3) of the Air Passenger Duty and Other Indirect Taxes (Interest Rate) Regulations 1998 (S.I. 1998/1461).

Regulation 4 amends regulation 3(1) of the Taxes and Duties, etc (Interest Rate) Regulations 2011 (S.I. 2011/2446).

Regulation 5 amends regulation 45(4) of the Customs (Import Duty) (EU Exit) Regulations 2018 (S.I. 2018/1248).

Each of these amendments increases the interest payable to HMRC on unpaid tax liabilities by 1.5%.

A Tax Information and Impact Note covering this instrument will be published on the government website at http://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins.