
1 
This Order may be cited as the Income Tax (Official Rate of Interest on Beneficial Loans) Order 1988 and shall come into force on 6th May 1988.
2 
For the purposes of section 160 of, and Schedule 7 to, the Income and Corporation Taxes Act 1988 (which impose a charge to income tax on beneficial loans) the official rate of interest is prescribed to be 9.5 per cent. per annum.
Mark Lennox-Boyd
Michael Neubert
Two of the Lords Commissioners of Her Majesty’s Treasury
21st April 1988