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HMRC internal manual

Technical Teams Operational Guidance

Case closure: reopening settlements: claims to cancel forward interest

SIOG9450 explains forward interest. Taxpayers sometimes ask to pay off an instalment arrangement early and ask whether the amount payable can be reduced because the forward interest was calculated for the original instalment period. We are sympathetic (see EM6414 but instalment offers are always expressed so that payment should be made “on or before” a stated date. And the general principle is always that an offer made and accepted in good faith creates a binding contract.

(This content has been withheld because of exemptions in the Freedom of Information Act 2000)

(This content has been withheld because of exemptions in the Freedom of Information Act 2000) SIOG9500(This content has been withheld because of exemptions in the Freedom of Information Act 2000)

(This content has been withheld because of exemptions in the Freedom of Information Act 2000) TTOG6635(This content has been withheld because of exemptions in the Freedom of Information Act 2000)