Commentary

BB/17A/03 New rates of interest paid by and to Customs & Excise

Part V16 Forms and other HMRC material

BB/17A/03 New rates of interest paid by and to Customs & Excise

BB/17A/03 New rates of interest paid by and to Customs & Excise

Business Brief, Issue 17. 11 September 2003

As a result of recent changes in base lending rates, the rates of interest paid by and to Customs & Excise decreased from 6 September 2003.

An Order of the Commissioners of Customs & Excise was issued on 3 September 2003 with the effect that—

  1.  

    —     the rate of default interest charged on underdeclared VAT, Air Passenger Duty, Insurance Premium Tax, Landfill Tax, Climate Change Levy, Aggregates Levy and Customs & Excise duties will decrease from 6·5 per cent to 5·5 per cent

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