Tax Collection and Management (Wales) Act 2016 section 162

Repayment interest: supplementary

Section 162 sets out important limitations and clarifications regarding when repayment interest is payable by the Welsh Revenue Authority (WRA).

• No repayment interest is payable where a court order or judgment already has the power to award interest on the amount in question
• Repayment interest cannot itself attract further repayment interest — there is no compounding
• Where an amount is set off against a debt owed to WRA rather than being physically repaid, the date of that set-off counts as the repayment date for interest calculation purposes
• These rules supplement section 161, which establishes the general entitlement to repayment interest on amounts payable by WRA