COM30060 | Background: company taxation overview: credit and debit interest

The regulations introducing quarterly instalment payments (QIPs) of tax by large companies took effect at the same time as the introduction of CTSA. From 1 April 2019 changes to this regulation introduced Very Large companies

Those regulations impose debit interest on companies that are liable to make instalments.

The same regulations also entitle all companies to be paid credit interest by HMRC if they pay tax earlier than the normal due date.

See:

• COM80000 for full details of the operation of credit and debit interest

• COM30021 for legislation applying to this subject.