Part 6: Administration and enforcement Section 52: Rate of interest applicable to judgment debts etc. in taxation matters Summary
This section provides that where HM Revenue & Customs (HMRC) is party to a tax-related judgment debt, the rates of interest are those referred to in tax legislation, whether the debt follows from court action or not. The section sets the rates of interest on tax-related judgment debts owed by or to HMRC to appropriate levels given prevailing interest rates. It also introduces a special repayment rate of interest on tax-related judgment debts owed by HMRC. The new special repayment rate of interest will apply prospectively from 8 July 2015 and apply to existing as well as new judgment debts.