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HMRC internal manual

VAT Default Interest Manual

From
HM Revenue & Customs
Updated
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The law and legal powers: Discretion to assess interest or not

VAT Act 1994 Section 76(1) states that where any person is liable

‘(c) for interest under section 74

The Commissioners may, subject to subsection (2) below, assess the amount due by way of penalty interest or surcharge, as the case may be, and notify it to him accordingly.’

Please refer to VDIM3000 commercial restitution.