COM82010 - Interest: interest objections and amendments: why an interest charge may be incorrect
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A late payment interest charge may be incorrect for one or more of the following reasons.
Where the clerical interest indicator (CII) is set to 'N':
- the EDP (Effective Date of Payment0 of one or more payment type credits is incorrect
- a payment type posting has been incorrectly allocated
Where the Clerical Interest Indicator is set to 'Y':
- the EDP of one or more payment type credits is incorrect
- a payment type posting has been incorrectly allocated
- the underlying tax has been reduced
- carry-back of DTR (Double Taxation Relief) or losses is involved
- relief has been granted under Section 458 Corporation Tax Act 2010
A debit interest charge may be incorrect for one or more of the following reasons.
Where the credit / debit interest indicator (CDII) is set to ‘N’:
- the EDP of one or more payment type credits is incorrect
- a payment type posting has been incorrectly allocated
- a payment type posting has been transferred to OAS (Overpayment Accounting System)
- the quarterly instalment payment (QIP) signal has incorrectly been set to ‘Y’
Where the credit / debit interest indicator (CDII) is set to ‘Y’:
- the EDP of one or more payment type credits is incorrect
- a payment type posting has been incorrectly allocated
- the underlying tax has been decreased
- not all payments have been included in the calculation
- the QIP signal has incorrectly been set to ‘Y’