SI 2019/918 - The Finance Act 2009, Sections 101 and 102 (Disclosure of Tax Avoidance Schemes: Penalties) (Appointed Day and Consequential Provisions) Order 2019

Released 10 May 2019

SI 2019/918 sets 1 June 2019 for the commencement of interest on certain penalties under the disclosure of tax avoidance schemes regime.

The Finance Act 2009, Sections 101 and 102 (Disclosure of Tax Avoidance Schemes: Penalties) (Appointed Day and Consequential Provisions) Order 2019 appoints 1 June 2019 as the day on which the provisions about late payment and repayment interest set out in the Finance Act 2009, s. 101 and 102 (and Sch.53 and 54) come into force in relation to penalties under:

the Taxes Management Act 1970, s. 98C in connection with the disclosure of tax avoidance schemes regime in the Finance Act 2004, Pt. 7;

the National Insurance Contributions (Application of Part 7 of the Finance Act 2004) Regulations 2012 (SI 2012/1868), reg. 22 of in connection with the disclosure of tax avoidance schemes regime in relation to national insurance contributions contained in those regulations.

FA 2009, s. 101 applies late payment interest to any sum due by virtue of an enactment to HMRC but paid late. FA 2009, s. 102 applies repayment interest to any amount payable by HMRC to any person by virtue of an enactment. The current applicable rates in respect of late payment interest and repayment interest are set out in the Taxes and Duties, etc (Interest Rate) Regulations 2011 (SI 2011/2446). The order comes into force on 1 June 2019.

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