SolvedVDIM5120 | Calculation of interest: Interest calculation record codes
From HM Revenue & Customs · VAT Default Interest Manual
This guidance deals with interest matters in respect of prescribed accounting periods starting on or before 31 December 2022. Interest matters with effect from 01 January 2023 are dealt with under Finance Act 2009.
Please see Compliance Handbook page CH140000 onwards to find the new interest rules guidance.
| Code | Meaning |
|---|---|
| A | Prime assessment or payment return for the period in which the assessment was raised |
| B | Repayment return for the period in which the officer’s assessment was raised |
| C | Calculation point for interest on the original assessment |
| D | Calculation point for further interest |
| E | Amendment |
| F | Remittance appropriated against interest bearing tax |
| G | HQ interest adjustment start |
| H | HQ interest adjustment end |
| I | Write-off VAT708 |
| J | Unpaid cheque |
| K | Change in interest rate |
| M | Transfer out |
| N | Pre 1 April 1990 tax over declared on an officer’s assessment |
| O | Remittance reassignment out |
| P | Remittance reassignment in |
| Q | Return replacing prime plus additional assessment |
| R | Repayments appropriation |
| S | Insolvency reinstatement of write off |
| W | Accounting adjustment for leap year |
| X | Interest inhibit set after appeal |
| Y | Insolvency |
| Z | Deregistration |