SI 2019/921 - The Finance Act 2009, Sections 101 and 102 (Avoidance: Penalties) (Appointed Day) Order 2019
Released 10 May 2019
SI 2019/921 sets 1 June 2019 for commencement of interest on certain penalties under the disclosure of tax avoidance schemes regime.
The Finance Act 2009, Sections 101 and 102 (Avoidance: Penalties) (Appointed Day) 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 Finance (No. 2) Act 2017, Sch. 17, Pt. 2 in connection with the regime for disclosure of tax avoidance schemes in relation to VAT and other indirect taxes in F(No. 2)A 2017, Sch. 17, Pt. 1;
•Finance Act 2014, Sch. 35 in connection with the promoters of tax avoidance schemes regime in FA 2014, Pt. 5;
•F(No. 2)A 2017, Sch. 16 for enablers of defeated tax avoidance schemes.
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 was made on 9 May 2019.