HC Deb 15 April 1969 vol 781 c1012

The rate of interest charged on unpaid taxes has been 4 per cent. since 1967. This is too low in present conditions to provide a real deterrent to tax-payers who might be tempted to delay payment of their taxes. I propose therefore to raise the rate from 4 per cent. to the more realistic level of 6 per cent. The appropriate Treasury Order, under Section 40 of the Finance Act, 1967, will be laid today. The change will apply to interest from 19th April, the day on which Income Tax deducted from dividents and annual payments next becomes due and payable.