(1) Where the Comptroller fails to pay a refund of tax relating to an excess under section 57 within 1 month of the date specified under that section, the Comptroller is required to pay the taxable person entitled to the refund an additional amount as interest commencing 1 month after such date and ending on the date the payment of the refund is made.
(2) Where the Comptroller is required to refund an amount of tax to a person as a result of —
(a) an objection decision under section 41;
(b) a decision of the Appeal Commissioners under section 42;
(c) a decision of the High Court under section 43; or
(d) a decision of the Court of Appeal under section 44,
the Comptroller shall pay interest on the amount of the refund for the period commencing from the date the person paid the tax refunded and ending on the date the refund is made.
(3) The rate of interest payable on a refund under this section is such rate as is specified in the Regulations.