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Revenue-based Taxes and Benefits
Table L - Prescribed rates of interest for unpaid tax and repayment supplement.
(1989 s.178 and S.I. 1989 No.1297)
For further information in respect of Interest
Rates.
S.I.
|
Prescribed Rate %
|
On and after
|
Year
|
Number
|
|
|
1974
|
966(a)(b)
|
9
|
1 July 1974
|
1979
|
1687
|
12
|
1 January 1980(c)
|
1982
|
1587
|
8
|
1 December 1982(c)
|
1985
|
563
|
11
|
1 May 1985(c)
|
1986
|
1181
|
8½
|
6 August 1986
|
1986
|
1832
|
9½
|
6 November 1986
|
1987
|
513
|
9
|
6 April 1987
|
1987
|
898
|
8¼
|
6 June 1987
|
1987
|
1492
|
9
|
6 September 1987
|
1987
|
1988
|
8¼
|
6 December 1987
|
1988
|
756
|
7.75
|
6 May 1988
|
1988
|
1278
|
9.75
|
6 August 1988
|
1988
|
1621
|
10.75
|
6 October 1988
|
1988
|
2185
|
11.5
|
6 January 1989
|
1989
|
1000
|
12.25
|
6 July 1989
|
1989
|
1297(a) (d)
|
12.25
|
18 August 1989
|
-
|
-
|
13.00
|
6 November 1989
|
-
|
-
|
12.25
|
6 November 1990
|
-
|
-
|
11.50
|
6 March 1991
|
-
|
-
|
10.75
|
6 May 1991
|
-
|
-
|
10.00
|
6 July 1991
|
-
|
-
|
9.25
|
6 October 1991
|
-
|
-
|
7.75
|
6 November 1992
|
-
|
-
|
7.00
|
6 December 1992
|
-
|
-
|
6.25(e)
|
6 March 1993
|
-
|
-
|
5.50(e)
|
6 January 1994
|
-
|
-
|
6.25(e)
|
6 October 1994
|
-
|
-
|
7.00(e)
|
6 March 1995
|
-
|
-
|
6.25(e)
|
6 February 1996
| |
(a) Reproduced in Part III.
(b) S.I. 1974 No. 966 does not apply to repayment supplement.
(c) 6 January 1980, 6 December 1982 and 6 May 1985 respectively in respect of repayment supplement.
(d) See this S.I. for new provisions for setting interest rates. Different rates may apply to tax on gilt interest.
(e) See S.I. 1989 No.1297 regn.3B for overpaid corporation tax-3.25% on and after 1 October 1993; 2.50% on and after 6 January 1994; 3.25% on and after 6 October 1994; 4.00% on and after 6 March 1995; 3.25% on and after 6 February 1996.
Rates set under S.I. 1989 No.1297(a) as amended by S.I. 1996 No.3187
On and after
|
Income tax and capital gains tax
|
Corporation tax(b)
|
Advance corporation tax and company payments (c)
|
|
|
Overdue
|
Overpaid
|
Overdue
|
Overpaid
|
Overdue or overpaid
|
31 January 1997
|
8.5
|
4.0
|
6.25
|
3.25
|
6.25
|
6 August 1997
|
9.5
|
4.75
|
7.5
|
4.0
|
7.25
|
6 January 1999
|
8.5
|
4.00
|
6.5
|
3.25
|
6.5
|
6 March 1999
|
7.5
|
3.00
|
5.75
|
2.75
|
5.75
|
6 February 2000
|
8.5
|
4.00
|
6.75
|
3.5
|
6.5
|
6 May 2001
|
7.5
|
3.5
|
6.0
|
2.75
|
5.75
| |
On and after
|
|
14 October 1999
|
7.5
|
6 February 2000
|
8.5
|
6 May 2001
|
7.5
|
|
|
| |
32
Rates set by S.I. 1989 No.1297 as amended by S.I. 1998 No.3176 for accounting periods ending on or after 1 July 1999.
On or after
|
CT underpaid
|
|
CT overpaid
|
|
|
|
Instalment payments
|
Other
|
Instalment or early payments
|
Other
|
7 January 1999
|
8.25
|
8.5
|
6.00
|
5.00
|
18 January 1999
|
8.00
|
8.5
|
5.75
|
5.00
|
15 February 1999
|
7.50
|
8.5
|
5.25
|
5.00
|
6 March 1999
|
7.50
|
7.5
|
5.75
|
4.00
|
19 April 1999
|
7.25
|
7.5
|
5.00
|
4.00
|
21 June 1999
|
7.00
|
7.5
|
4.75
|
4.00
|
20 September 1999
|
7.25
|
7.5
|
5.00
|
4.00
|
15 November 1999
|
7.50
|
7.5
|
5.25
|
4.00
|
24 January 2000
|
7.75
|
7.5
|
5.5
|
4.00
|
6 February 2000
|
7.75
|
8.5
|
5.5
|
5.00
|
21 February 2000
|
8.00
|
8.5
|
5.75
|
5.00
|
20 April 2000
|
7.00
|
8.5
|
5.75
|
5.00
|
19 March 2001
|
6.75
|
8.5
|
5.5
|
5.0
|
16 April 2001
|
6.5
|
8.5
|
5.25
|
5.0
|
6 May 2001
|
6.5
|
7.5
|
5.25
|
4.0
|
21 May 2001
|
6.25
|
7.5
|
5.0
|
4.0
|
13 August 2001
|
6.0
|
7.5
|
4.75
|
4.0
| |
