Clause 15 - Payments by Commissioners in case of error or delay
Finance Bill
6:30 pm
Miss Melanie Johnson (Economic Secretary, HM Treasury; Welwyn Hatfield, Labour)
I could write to the hon. Gentleman on that, but I believe that rates can be set by a value added tax and duties tribunal in judging individual cases, whereas the rate of interest will be determined by regulations set out in 1998 in respect of interest rates used for other indirect taxes. As the hon. Gentleman will be aware, the rate is 5 per cent. As I said, that is a discretionary power, whereas the provision in the clause is statutory.
Question put and agreed to.
Clause 15 ordered to stand part of the Bill.
Schedule 3 agreed to.