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HMRC internal manual

Self Assessment Manual

From
HM Revenue & Customs
Updated
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Assessments: assessments within SA: relevant dates for section 101, FA2009 interest purposes

The SA system will automatically compute Section 101, FA2009 interest (from 31 October 2011), (section 86 TMA 1970 interest up to 30 October 2011) on the basis of the entries you make in the various fields in function CREATE REVENUE ASSESSMENT. These may be

  • FIRST POA - 31st January during the year of assessment
  • SECOND POA - 31st July following the end of the year of assessment
  • BALANCE - 31st January following the end of the year of assessment

If you need to record any other relevant date(s) for Section 101, FA2009 interest purposes use function AMEND RELEVANT DATES.

To determine the correct relevant dates, (and the entries you should make in function CREATE REVENUE ASSESSMENT), you must consider

  • The type of assessment being made
  • The year of assessment
  • In respect of discovery, whether the assessment is for one year only, or whether assessments for consecutive years are being made

Use the tables below to determine the relevant date(s) for Section 101, FA2009 interest

Discovery assessment

1995-96 or earlier The balancing payment due date for the year of assessment
   
1996-97 or later - First or only year The balancing payment due date for the year of assessment
1996-97 or later - Other years The due dates of the payments on account, and the balancing payment for the year of assessment

Self employment - adjustment to years prior to cessation 

All years 30 days after the date of issue of the Notice of assessment
   

Capital Gains - withdrawal of roll-over relief 

All years The due date of the balancing payment for the year of assessment
   

Recovery of over-repayment 

All years The date the repayment being recovered was made