The UK Treasury has made and published The Finance Act 2009, Sections 101 and 102 (Economic Crime (Anti-Money Laundering) Levy) (Appointed Day) Order SI 2023/997 using its powers under sections 104(3) and 103(4) of the Finance Act 2009 (FA 2009).
The order states that the interest regime in sections 101 and 102 of (including Schedules 53 and 54) the FA 2009 will come into force from 30 September 2023. The first payment of liabilities under the economic crime levy become payable on 30 September 2023.
Interest will be added to any payment of the economic crime levy paid after the due date. The current applicable rates regarding late payment interest and repayment interest are set at the UK bank base rate plus 2.5%. The base rate is 5.25% so interest will apply at 7.75% a year.