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HMRC internal manual

Debt Management and Banking Manual

From
HM Revenue & Customs
Updated
, see all updates

Debt and return pursuit: PAYE: legislation/regulations: interest on tax unpaid and overpaid regulations

Income Tax (Pay as You Earn Regulations) 2003

Interest on tax unpaid

  • Chargeable for years from 92/3 onwards - 82(1), (2)
  • Interest not chargeable on employer if direction given for tax to be recovered from employee - 82(4)
  • Rate of interest - 82(7)
  • Reckonable date - 82(8)
  • Reckonable date includes non-business days - 82(3)
  • Interest recoverable as if it were tax - 84(2)
  • IR certificate of interest due from and unpaid by employer - 218(3)
  • Challenge to IR certificate - 218(6)

Interest on tax overpaid

  • Interest on tax repayments for 92/93-95/96 - Sch 1 para 23
  • Interest on tax repayments for 96/97 onwards - 83
  • Rate of interest for 96/97 onwards - 83(4)