COM61070 - CT online services: COTAX view L and P: single company view

This subject is presented as follows

General

AP Breakdown

Amount Charged

Satisfaction of Charge

General

This service enables companies and their agents to view a version of the information contained in the COTAX function VPPD (View Payment and Postings Details).

It is a summary of the postings that effectively distils and represents the information held in VPPD, in a format that is more accessible to external registered customers.

On first entering single company view the Your Balance (Word 28KB) screen is displayed showing

• The balance outstanding to HM Revenue & Customs (HMRC) (or overpaid if appropriate)
• A list of the open accounting periods (APs) giving rise to the overall figure

Note: Only live APs that have not been cleared in VPPD are shown on initial entry. Details of all live, or superseded APs with a monetary transaction, are available through different routes

It is important to remember that because of the delays in updating COTAX View L & P, the information provided will always be as at the date shown in the top right hand corner of the screen.

Where there is no outstanding balance due or overpayment arising, the Your Balance screen presents a Nil figure, and no AP details. To view AP information in such a case, see subject ‘View All APs’ (COM61080) in this section.

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AP Breakdown

On selecting a specific AP, the Accounting Period Overview screen is displayed which shows a breakdown of the chosen period.

Each AP shows the

• Amount Charged arising under specific headings, with a sub-total of the overall liability

And

• Satisfaction of Charge, again under specific headings, with a final total of the liability or overpayment arising

The headings were agreed upon in consultation with

• Large, medium and small companies

And

• A broad representation of the accountancy profession

They are intended to reflect commercial understanding of how a liability arises and is satisfied.

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Amount Charged

To arrive at the liability sub-total, the charge is broken down as

• Tax
• Interest

And

• Penalties

Each heading is a hyperlink that when selected, displays the specific items making up the on-screen total

Tax

This figure is from the most recent assessment or amendment on the COTAX record. Any Discovery Assessment (Word 28KB) made is shown separately. COTAX View L & P may combine several VPPD postings to give a single assessment figure. For example, one tax charge may include a Self Assessment, Section 419 and Double Taxation. You can obtain further detail by viewing COTAX function DASS (Display Assessment), and comparing the different entries

Interest

This single figure is an aggregate made up from a total of each of the four types of interest which may appear in VPPD

• Credit Interest (Word 34KB)
• Debit Interest (Word 31KB)
• Repayment Interest (Word 80KB)

And

• Late Payment Interest (Word 27KB)

Selecting the total Interest figure, which is a hyperlink, opens a further display of the total of each of the different types of interest arising in that AP. Further selection of the different types of interest shown, will show how it has been calculated

(This text has been withheld because of exemptions in the Freedom of Information Act 2000)

Penalties

This single figure is an aggregate of the two types of Penalty Determinations which may appear in Function VPPD (View payment and Posting Details)

• Flat-rate (Word 32KB)

And

• Tax-related (Word 30KB)

Selecting the total Penalty figure, which is a hyperlink, opens a further display of the total of each of the different types of Penalty arising in that AP.

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Satisfaction of Charge

To arrive at a balanced AP, or any total outstanding or repayable, the satisfaction of charge is broken down as

• Less Paid
• Repayment / Reallocation

And

• Adjustments

Each heading is a hyperlink which when selected displays the specific items making up the on-screen total

Less Paid

This figure is the total of the three separate types of payments that are shown in View L & P. Selecting the total ‘Less Paid’ figure, which is a hyperlink, opens a further display of the total of each of the different types of payment arising in that AP.

Types of payment
Electronic Payment	Used to describe BACS and CHAPS payments
Cheque Payment	Used to describe bank lodgement payments
Inland Revenue Credit	Used to describe a District set-off using Function DSET (District Set Off)

Repayment / Reallocation

Under this heading, details are given of both repayments made to the company, and reallocations within the AP.

Repayments: In COTAX View L & P, repayments are shown as being made

• By Payable Order
• By BACS transfer

And

• Where appropriate, as having been cancelled after issue

COTAX View L & P shows repayment postings after they have been authorised by COTAX. Repayments awaiting authorisation, subject to an inhibition or cancelled before they are issued, will not appear in COTAX View L & P. It follows that there will be circumstances in which the information in Function VPPD differs from that shown on the Internet.

To arrive at the total repaid in any one transaction, you must add the repayment details to the repayment interest details as appropriate.

Reallocations: In COTAX View L & P, reallocations include two separate descriptors

• Reallocations

COTAX View L & P shows transfers between APs as reallocations, with details of the AP from which monies have been moved. Transfers between Tax, Interest and Penalties within an AP are not shown in the Internet service

• Miscellaneous Transfers

Under this heading are items which were originally posted on another record, and have subsequently been transferred to this AP, such as Section 102 Surrenders, payments with incorrect payslips or reference numbers. For confidentiality reasons specific details relating to one company cannot be made accessible to another

Adjustments

Under this heading, details are given of the COTAX postings not included in any other area of COTAX View L & P. The amounts concerned are displayed under three separate categories, and shown as a single total figure for each category

Categories
Postponement	Used to describe those amounts which are subject to a formal postponement agreement
Not currently being pursued	Used to describe Automatic and Informal standovers, informal discharges and automatic and manual remissions (This text has been withheld because of exemptions in the Freedom of Information Act 2000)(This text has been withheld because of exemptions in the Freedom of Information Act 2000)
Permanent overpayment	Small amounts below £1, that have not been repaid

For a list of functions to use in particular situations, see COM61012.