
1 
This Order may be cited as the Income Tax (Official Rate of Interest on Beneficial Loans) Order 1989 and shall come into force on 6th July 1989.
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 15.5 per cent. per annum.
David Lightbown
Kenneth Carlisle
Two of the Lords Commissioners of Her Majesty’s Treasury
12th June 1989