Payments: group payment arrangements: interest
Payments made by the Nominated Company on behalf of the participating companies are deemed to have been made by those companies in the amounts finally apportioned to them, on the dates they were made by the Nominated Company.
This establishes the interest position for each of the participating companies. Interest is charged and / or paid accordingly.
A company required to make Quarterly Instalment Payments (QIPs) may be liable to Debit Interest and / or entitled to Credit Interest in respect of payments made. A non QIP company may be entitled to Credit Interest.