CCM14155 - Closing the Enquiry: Interest charge

The NTC system will not charge interest automatically because most overpayments do not attract interest. Where you have concluded that interest is appropriate (see CCM14120) you will have mentioned this in your letter to the claimant and you should then complete the stencil shown below which is sent to the SAFE Unit, Tax Credits Team, Shipley to show the overpayment carries interest. You will not need to use this form where you are settling your enquiry by way of a contract letter of offer and there is no continuing award so the offer includes the overpayment - see CCM14200.

Interest will run from 30 days after the first specified date (see CCM11040) regardless of the date on which the enquiry was opened.

The SAFE Unit, Tax Credits Team, Shipley will calculate the amount of interest due and request payment of this sum. If the claimant contacts you regarding the calculation of the interest charge you will have to refer them to the SAFE Unit, Tax Credits Team, Shipley or contact them on the claimant's behalf.

[Interest stencil]