SolvedCOM82010 | Interest: interest objections and amendments: why an interest charge may be incorrect
From HM Revenue & Customs · COTAX Manual
This page is currently under review
A late payment interest charge may be incorrect for one or more of the following reasons.
Where the clerical interest indicator (CII) is set to 'N':
the EDP (Effective Date of Payment0 of one or more payment type credits is incorrect
a payment type posting has been incorrectly allocated
Where the Clerical Interest Indicator is set to 'Y':
the EDP of one or more payment type credits is incorrect
a payment type posting has been incorrectly allocated
the underlying tax has been reduced
carry-back of DTR (Double Taxation Relief) or losses is involved
relief has been granted under Section 458 Corporation Tax Act 2010
A debit interest charge may be incorrect for one or more of the following reasons.
Where the credit / debit interest indicator (CDII) is set to ‘N’:
the EDP of one or more payment type credits is incorrect
a payment type posting has been incorrectly allocated
a payment type posting has been transferred to OAS (Overpayment Accounting System)
the quarterly instalment payment (QIP) signal has incorrectly been set to ‘Y’
Where the credit / debit interest indicator (CDII) is set to ‘Y’:
the EDP of one or more payment type credits is incorrect
a payment type posting has been incorrectly allocated
the underlying tax has been decreased
not all payments have been included in the calculation
the QIP signal has incorrectly been set to ‘Y’