“(1) The Chancellor of the Exchequer must review the appropriateness of any relevant interest rate charged by virtue of the specified provisions on the late payment of penalties for the promoters of tax avoidance schemes and lay a report of that review before the House of Commons within six months of the passing of this Act.
(2) In this section, “the specified provisions” means—
(a) section 178 of FA 1989, and
(b) sections 101 to 103 of FA 2009.”.—
This new Clause would require the Chancellor of the Exchequer to review the interest rate on late payment of penalties for the promoters of tax avoidance schemes.