Section 175A — Pensions Act 2008: Levies: interest for late payment

Levies: interest for late payment 175A 1 Regulations may make provision for interest to be charged at the prescribed rate in the case of late payment of a levy imposed under section 175(1).

2 Interest is payable by or on behalf of the person or persons by or on behalf of whom the levy is payable.

3 Interest payable by a person by virtue of this section is a debt due from the person to the Secretary of State.

4 Interest is recoverable by the Secretary of State or, if the Secretary of State so determines, by the Regulatory Authority on the Secretary of State's behalf.

5 Without prejudice to the generality of subsection (1), regulations under this section may include provision relating to—

a the collection and recovery of interest;

b the circumstances in which interest may be waived.