VDIM6060 | Interest adjustment: After input of Form VAT663

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.

Once the VAT663 has been forwarded to Accounting & Adjustments you should monitor the resulting computer adjustments.

You will receive confirmation of the adjustment on the print D1686 ‘Change of Interest Notification’. This print is issued on a daily basis.

On receipt of the D1686 you should check you have achieved the desired result by examining the interest calculation record for the relevant assessment.

No output document is produced following the VAT663 action so any adjustment must be notified to the taxpayer manually.