Jurisdiction: United Kingdom
Commencement: 6th April 2025
Amends: Air Passenger Duty and Other Indirect Taxes (Interest Rate) Regulations 1998 (SI 1998/1461)
Mini Summary
The Air Passenger Duty and Other Indirect Taxes (Interest Rate) Regulations 1998 specify the rates of interest payable to and by the Commissioners in connection with air passenger duty, insurance premium tax, VAT recovered or recoverable by assessment and landfill tax. These Regulations also specify the date when interest rates will change.
Duties
Various duties apply and are available to view on the Legislation Update Service.
Amendment
Interest rates are increased for tax liabilities and recoveries relating to air passenger duty, insurance premium tax, VAT (recovered or recoverable by assessment), and landfill tax. The new calculation to be used to determine the level of interest is the reference rate (RR) +4%.