The Effective Date is the date COMPASS uses to calculate
interest (
IHTM31511). When you initiate the Raise
process, this will be set to today’s date and you will not
normally need to alter this date. COMPASS will however
automatically amend this date on IOP assessments where you click
the prompt (
IHTM31184) “yes” to the
question, “The next instalment is due within 31 days do you
want to include it here?”
Where deposits cover the amount of tax due on an assessment
COMPASS will ensure that interest is not calculated beyond the date
of the deposit so you need not alter this date.
If exceptionally you do need to alter this date, move the
cursor to the box, delete the date and type in the date you want in
one of the date formats that COMPASS accepts.
You can set a future date here, which may be useful where the
recipients request that the assessment be calculated to a future
date.
