Finance Act, 1980
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Interest on death duties. |
93.—(1) Notwithstanding section 18 of the Finance Act, 1896 , section 9 of the Finance Act, 1912 , section 30 of the Finance Act, 1919 , or section 32 of the Finance Act, 1971 , simple interest at the rate of 15 per cent. per annum, without deduction of income tax, shall be payable on any death duties outstanding after the date of the passing of this Act: | |
Provided that, in any case where such duties are being paid by instalments, the said interest shall be payable thereon at the rate of 9 per cent. per annum in lieu of the rate aforesaid. | ||
(2) This section shall be construed together with the Finance Act, 1894 , and the enactments amending or extending that Act. |