SAM121380 - Returns: individuals returns: charge
A charge is any individual item that makes up a taxpayer’s liability excluding accruing interest. A charge to interest is only created when the charge giving rise to interest is paid in full. For more information on formal interest charges see the Debt management & Banking Manual.
The following is a list of charges and the descriptions you will see when using function VIEW STATEMENT
Charge | Description |
First payment on account | 1st payment on account due for YY/YY (year) |
Second payment on account | 2nd payment on account due for YY/YY (year) |
Balancing charge | Balance of tax due for year YY/YY(year) |
Late payment interest | Interest due on amount of …. (date) |
Automatic fixed penalty | Fixed penalty for late return YY/YY(year) |
Manually raised daily penalty | Penalty due |
Manually raised Miscellaneous penalty | Penalty due |
SA stranded underpayment | Amount no longer included in PAYE code |
Net underpayment | Amount no longer included in PAYE code |
Surcharge | Surcharge for YY/YY(year) |
Determination | Determination for Tax year YY/YY |
Assessment | Assessment for tax year YY/YY |