Beta This part of GOV.UK is being rebuilt – find out what this means

HMRC internal manual

Enquiry Manual

From
HM Revenue & Customs
Updated
, see all updates

Interest: Pre-SA Years 1995-96 and Earlier Years

FA1995/S110

The starting point is the date on which the assessment is made.

Individuals: Assessments for 1995-1996 and earlier years made on or after 6 April 1998

The relevant date for interest purposes is 31 January following the year of assessment.

Example

A 1994-1995 assessment is made on 30 September 2008. Whilst the due date for payment is 30 October 2008 the relevant date for interest purposes is 31 January 1996.

Individuals: Assessments for 1995-1996 and earlier years made before 6 April 1998

The pre-SA version of S86 and S88 apply. If help is needed approach contact link.

Partnerships: Assessments for 1995-1996 and earlier years made on or after 6 April 1998

For pre-SA years partnerships were assessable in a single sum - see EM7001. This is still true of a discovery assessment made on or after 6 April 1998. Interest is chargeable under the SA version of S86 and will run from the 31 January following the year of assessment.

Note: For “new” partnerships commencing on or after 6 April 1994 (see EM7001) tax is assessable on the individual not the partnership.

Partnerships: Assessments for 1995-1996 and earlier years made before 6 April 1998

Partnerships: Assessments for 1996-1997 made at any time (see EM4010)

For these and any other advice approach contact link.