COM82010 - Interest: interest objections and amendments: why an interest charge may be incorrect

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 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 S458 CTA 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
• 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 quarterly instalment payment (QIP) signal has incorrectly been set to ‘Y’.