The Taxes (Interest Rate) (Amendment No. 2) Regulations 1997
These Regulations, made under powers contained in section 178 of the Finance Act 1989 (“section 178”), make provision for the rate of interest applicable for the purposes of section 118F of the Income and Corporation Taxes Act 1988 (“section 118F” and “the Taxes Act” respectively). Sections 118A to 118K of the Taxes Act were inserted by paragraph 1 of Schedule 29 to the Finance Act 1996.