COM82010 - Interest: interest objections and amendments: why an interest charge may be incorrect

Late payment interest (Word 27KB) charge may be incorrect for one or more of the following reasons

• Where the Clerical Interest Indicator (CII (Word 32KB)) is set to 'N'
• The EDP (Word 41KB) of one or more payment (Word 26KB) type credits is incorrect
• A payment type posting has been incorrectly allocated
• Where the Clerical Interest Indicator is set to 'Y'
• The EDP of one or more payment type credits is incorrect
• A payment type posting has been incorrectly allocated
• The underlying tax has been reduced
• Carry-back of ACT, DTR (Double Taxation Relief) or losses is involved
• Relief has been granted under S458 CTA 2010 (Word 29KB)(formerly S419(4) ICTA 1988)

A debit interest (Word 31KB) charge may be incorrect for one or more of the following reasons

• Where the Credit / Debit Interest Indicator (CDII) (Word 29KB) is set to ‘N’
• The EDP of one or more payment type credits is incorrect
• A payment type posting has been incorrectly allocated
• A payment type posting has been transferred to OAS (Word 28KB) 
• The Quarterly Instalment Payment (Word 42KB) QIP signal has been set incorrectly to ‘Y’
• Where the Credit / Debit Interest Indicator (CDII) is set to ‘Y’
• The EDP of one or more payment type credits is incorrect
• A payment type posting has been incorrectly allocated
• The underlying tax has been decreased
• Not all payments have been included in the calculation
• The Quarterly Instalment Payment QIP signal has been incorrectly set