Citation and commencement
1. These Regulations may be cited as the Taxes (Interest Rate) (Amendment) Regulations 2008 and shall come into force on 6th April 2008.
Amendment of the Taxes (Interest Rate) Regulations 1989
2. In the Taxes (Interest Rate) Regulations 1989(1), in regulation 3AB(3)—
(a)in the specified formula for “LR” substitute “BR”, and
(b)for “LR is the percentage at which income tax at the lower rate” substitute “BR is the percentage at which income tax at the basic rate”.
Alan Campbell
Frank Roy
Two of the Lords Commissioners of Her Majesty’s Treasury
19th March 2008