Related Commentary  Related HMRC Manuals

103(1)  The late payment interest rate is the rate provided for in regulations made by the Treasury under this subsection.

103(2)  The repayment interest rate is the rate provided for in regulations made by the Treasury under this subsection.

103(3)  Regulations under subsection (1) or (2)–

(a)may make different provision for different purposes,

(b)may either themselves specify a rate of interest or make provision for such a rate to be determined (and to change from time to time) by reference to such rate, or the average of such rates, as may be referred to in the regulations,

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