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HMRC internal manual

International Manual

Double Taxation Applications and Claims: repayment interest: What information is required to calculate repayment interest

Information required

There are three dates that you require before you can calculate the repayment interest due on a repayment, or a payment of tax credit:

  • the date on which the original payment was made by the UK payer of the income
  • the date of issue of the repayment (or payment of tax credit) and
  • the date the company’s accounting period ended for the period during which it received the income.

Companies usually prepare their accounts for a 12 month period but occasionally the accounts will be for a shorter or longer period.

There are examples

  • for a 12 month accounting period at INTM333560 (the same basis of calculation applies for an accounting period of less than 12 months)
  • for a period longer than 12 months at INTM333570.