Taxes (Interest Rate) (Amendment) Regulations 2010 come into force

Implementation date: 6 April 2010

The Regulations reduce the official rate of interest, applicable under chapter 7 of part 3 of the Income Tax (Earnings and Pensions) Act 2003, to 4% per annum. Chapter 7 sets out the circumstances in which employment-related loans give rise to a taxable benefit. The Regulations can be viewed on the OPSI website.