HCOTEG132320 - Central accounting points: Details of those functions carried out by the trader at the CAP: Submission of HO10 returns and making payment
The deferment accounting period for excise duty is from midnight at the start of the 15th day of each month to midnight at the end of the 14th day of the following month.
Payment day is the last business day of the latter month, subject to the payment arrangements set out in Notice 179.
The Central Accounting Point (CAP) must ensure that the HO10 return is submitted and payment made in accordance with the timescales laid out in Notice 179 paragraph 11.5.
A fully completed HO10 return gives details of the total quantities of oil removed from a duty-suspended warehouse by tax type code and the gross amount of duty payable in Part 1.
The quantity of oil delivered is to be assessed in litres at 15ºC (Standard Temperature), for further information see Notice 179, paragraphs 4.2 to 4.4.
Any applicable duty credits and rebates are shown as deductions in Part 2, in order to arrive at a net amount for duty payment or reclaim.
Payments made by Bacs are subject to the £20 million limit referred to in Notice 179.
N.B. the timescales for submitting the HO10 return depend on the method of payment, see Notice 179 paragraph 11.5 for further details. A NIL return must still be submitted if no liability has been accrued. All HO10 returns must be signed in accordance with Notice 179 paragraph 11.6.
The procedure to be followed by traders in respect of accounting errors determined after the goods have been delivered from warehouse may be found in Notice 179.