COM125010 - Repayments / reallocations: non automatic repayments: intervention in automatic repayments
You must make repayments of CT for APs ending on or after 1 October 1993
- Using the computer, except on specific instructions from Head Office.(This text has been withheld because of exemptions in the Freedom of Information Act 2000) See section 'Repayment / Reallocation Authorisation' (COM124000) in this business area for information about large repayments
- Wherever possible, to the recipient's bank or building society account, using BACS (Bankers' Automated Clearing Service)
For BACS repayments
- The company must provide the necessary details of its own, or its nominee's, bank or building society account
- The credit will normally be made to the recipient's account on the third working day after you authorise the repayment
- The computer only records the ‘Date of Issue' when it receives confirmation of a successful credit. This is usually 5 working days after the repayment is authorised. You can see the status of the repayment by using function VPPD (View Payment and Posting Details) and from the payments and posting screen select the repayment posting and select the [OK] button.
Where no BACS details are available, you should contact the company to explain the benefits of BACS and get these details. You should ask them to fax BACS details on company headed paper.
Where BACS (and any nominee) details are recorded on COTAX from the e-filed return or with Function CRTN (Capture Return) from the return for the latest live AP, Function DIRR (Direct Repayment) will display these details. These details should be checked to ensure that the repayment is paid to the correct recipient / account.
Where there were no BACS details captured from the return for the latest live AP you will need to enter them using in DIRR (screen COT171J) and check that they are correct before making the repayment.
You cannot record details of CHAPS repayments on COTAX. Repayments made by this method are therefore not reflected in Function VPPD (View Payments and Posting Details).
The computer will not issue a payable order to a company address that is recorded as RLS, and
- If you try to make the repayment using Function DIRR (Direct Repayment), the computer will reject the repayment details and present a screen message telling you why
If, exceptionally, a company cannot receive a repayment by BACS or payable order because it does not have a bank account, telephone the COTAX Business Help Desk(This text has been withheld because of exemptions in the Freedom of Information Act 2000)for assistance.
Notes:
1. |
CHAPS (Clearing House Automated Payment System) should not be used for repayments. However, in exceptional circumstances you can use CHAPS to make large repayments of income tax, tax credits or other duties that COTAX will not process.(This text has been withheld because of exemptions in the Freedom of Information Act 2000) |
2. |
Overseas bank (not a UK branch of a foreign bank) accounts can have 10 digits. If you need to make a repayment by BACS to a bank account with more than 8 digits please telephone the CT Business Help Desk (This text has been withheld because of exemptions in the Freedom of Information Act 2000). You will need to tell them the bank sort code and account number and the Help Desk will give you the correct account number to use |
3. |
Repayments of CT for APs ending on or before 30 September 1993 must be made by the SAFE unit, and requests should be made using the SEES SAFE Repayments stencil (SAFE 1). Where these repayments attract repayment supplement (Word 29KB) see the Relief Instructions Manual (RE3195 onwards). |
For a list of functions to use in particular situations, see COM125011.
