LegalizeThe Finance Act 2009 (VAT-related Payments) (Interest) (Appointed Day) Order 2023
Made: 3rd April 2023
The Treasury, in exercise of the powers conferred by section 104(3) and (4) of the Finance Act 2009[^f00001], make the following Order.
Citation
1
This Order may be cited as the Finance Act 2009 (VAT-related Payments) (Interest) (Appointed Day) Order 2023.
Appointed Day
2
1st May 2023 is appointed as the day on which sections 101 and 102[^f00002] of the Finance Act 2009 (late payment interest on sums due to HMRC and repayment interest on sums to be paid by HMRC) come into force for the purposes of amounts payable under or by virtue of the Value Added Tax (Margin Schemes and Removal or Export of Goods: VAT-related Payments) Order 2023[^f00003], including any penalties assessed in relation to those amounts, in so far as those provisions are not already in force for those purposes.
Signed
Andrew Stephenson — Steve Double — Two of the Lords Commissioners of His Majesty’s Treasury — 3rd April 2023
Explanatory note
(This note is not part of the Order)
EXPLANATORY NOTE
This Order commences, for the purposes of the Value Added Tax (Margin Schemes and Removal or Export of Goods: VAT-related Payments) Order 2023 (S.I. 2023/68) (“the 2023 Order”), provisions of the Finance Act 2009 (c. 10) which provide for late payment interest on sums due to HMRC and repayment interest on sums due to be paid by HMRC.
Article 2 appoints 1st May 2023 as the date on which sections 101 and 102 of the Finance Act 2009 come into force.
Those provisions were brought into force for the purposes of VAT, including any penalties imposed in relation to amounts of VAT due, on 1st January 2023 (see S.I. 2022/1277). Those provisions therefore already apply to VAT-related payments claimed by means of a VAT return (see article 7 of the 2023 Order).
A Tax Information and Impact Note has not been prepared for this instrument as it gives effect to previously announced policy and it is an appointed day order.
Footnotes
[^f00001]: 2009 c. 10.
[^f00002]: Section 102(4) was amended by paragraph 2 of Schedule 29 to the Finance Act 2021 (c. 26).
[^f00003]: S.I. 2023/68.
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