The Air Passenger Duty and Other Indirect Taxes (Interest Rate) (Amendment) Regulations 2000
These Regulations, which come into force on 1st April 2000, make a number of changes to the Air Passenger Duty and Other Indirect Taxes (Interest Rate) Regulations 1998 (S.I. 1998/1461) (“the principal Regulations”). The principal Regulations are amended so that they will specify the rate of interest applicable for the purposes of the additional enactments to which section 197 of the Finance Act 1996 applies following its amendment by paragraph 21 of Schedule 5 to the Finance Act 1997 and section 130 of the Finance Act 1999. These amendments extended section 197 to cover interest on amounts repayable in respect of overpayments by the Commissioners of Customs and Excise (“ the Commissioners”) in connection with excise duties, insurance premium tax and landfill tax; and interest payable to and by the Commissioners in connection with customs duty.