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HMRC internal manual

Compliance Handbook

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HM Revenue & Customs
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Interest: Repayment interest: Special provisions for start dates: Relief for losses and averaging

You must check whether, and from which date, the FA 2009 interest rules apply to the tax or duty you are dealing with. See CH140160 for full details.

A special provision changes the repayment interest start date from the general rule, see CH146040, where a person makes a claim to

  • calculate loss relief as though it was given in an earlier year, see SACM11005 (TMA70/SCH1B/PARA2), or
  • average the profits of farmers etc over two consecutive years, see BIM73101 (ITTOIA05/PART2/CHAPTER16).

The repayment interest start date is 31 January following the year that is the later year in relation to the claim.

See CH146300 for examples.

FA09/SCH54/PARA7