Taxation (Use of Money Interest Rates) Regulations 1998

Regulations

1 Title and application

(1)

These regulations may be cited as the Taxation (Use of Money Interest Rates) Regulations 1998.

(2)

These regulations apply on and after 7 July 1998 with respect to tax obligations, liabilities, and rights that are to be performed under or arise—

(a)

in respect of tax payable under the Income Tax Act 1994 or the Income Tax Act 2004 or the Income Tax Act 2007 in relation to income derived in the 1997–98 tax year and subsequent years:

(b)

in respect of goods and services tax payable in relation to supplies made in taxable periods commencing on or after 1 April 1997:

(c)

in respect of gift duty payable in relation to gifts made on or after 1 April 1997:

(d)

in respect of duty payable under the Gaming Duties Act 1971 in relation to all races run, all lotteries drawn, all dutiable games played by means of a gaming machine, and all casino wins arising on or after 1 April 1997:

(e)

in respect of duty payable under the Stamp and Cheque Duties Act 1971 in relation to every—

(i)

instrument of conveyance executed; and

(ii)

bill of exchange made, drawn, or prepaid under section 81 or section 82 or section 83 of that Act—

on or after 1 April 1997:

(f)

in respect of duty payable under Part 6A of the Stamp and Cheque Duties Act 1971 in relation to every liable transaction under that Part entered into on or after 1 April 1997 but before 1 April 1998:

(g)

in respect of an amount payable by a payer (as defined in section 153 of the Child Support Act 1991) under Part 10 of the Child Support Act 1991 on or after 1 April 1997.

Regulation 1(2)(a): amended, on 1 April 2008 (effective for 2008–09 income year and later), by section ZA 2(1) of the Income Tax Act 2007 (2007 No 97).

Regulation 1(2)(a): amended, on 1 April 2005 (effective for 2005–06 tax year and later), by section YA 2 of the Income Tax Act 2004 (2004 No 35).