Statutory Instrument 1993 No. 192

The Value Added Tax Act 1983 (Interest on Overpayments etc) (Prescribed Rate) Order 1993

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1993 No. 192

VALUE ADDED TAX

The Value Added Tax Act 1983 (Interest on Overpayments etc) (Prescribed Rate) Order 1993

The Treasury, in exercise of the powers conferred on them by section 38A(3) of the Value Added Tax Act 1983(^[1]), hereby make the following Order:

    1.    This Order may be cited as the Value Added Tax Act 1983 (Interest on Overpayments etc) (Prescribed Rate) Order 1993 and shall come into force on 6th February 1993.

    2.    For the purposes of section 38A of the Value Added Tax Act 1983 the prescribed rate shall be 8 per cent.

Tim Wood

Tim Kirkhope

Two of the Lords Commissioners of Her Majesty's Treasury

4th February 1993

This Order reduces from 10.25 per cent. to 8 per cent. the prescribed rate of interest for the purposes of section 38A of the Value Added Tax Act 1983 (interest in certain cases of official error).

[1] 1983 c. 55; section 38A was inserted by section 17 of the Finance Act 1991 (c. 31). back