COM90020 - Payments: processing payments: the payment record
The majority of Company Tax payments are made electronically, but where a payment is received in Banking Operations, Shipley, it will be processed in accordance with the instructions in the Debt Management and Banking manual at DMB200100. When a payment is received in any other HMRC Office see subject ‘Processing Payments Received in a Local Office’ (COM90030).
Function VPPD (View Payment and Posting Details) provides all the information you need about payments and other accounting postings that appear on a COTAX record. It is essential that you review the payment position before taking any pursuit action.
The payments displayed on Function VPPD (View Payment and Posting Details), Screen D with a posting type (Word 73kb) of ‘PYT’ are
- Bank lodgment payments
- Bank Giro payments
- Girobank payments
- BACS payments
- CHAPS payments
- Set-offs made by the CT responsible office
The computer also processes posting types ‘ACT’ (CT Pay and File APs only), ‘RFR’, ‘RTO’, and ‘LOS’ as payments in order to be able to calculate credit interest (Word 29.5kb), debit interest (Word 27kb), late payment interest (Word 23kb) and repayment interest (Word 81.5kb).
The payment reference number a company should use to make a payment electronically is the one provided
- On the latest payslip attached to either a payment reminder or payment application
Or
- From View Liabilities & Payments, Accounting Period overview screen
The computer applies the automatic payment allocation rules (Word 39kb) to all payments unless
- A duty type (Word 23.5kb) other than ‘A’ is entered when the payment is made
If you are contacted by telephone about paying by BACS or CHAPS, refer the call to Banking Operations Shipley and Cumbernauld on their Customer Contact number 0845 3667816.
Payments are handled on SAFE for
- All APs ending before 1 October 1993
- S419 ICTA 88) and S747 charges for APs ending on or before 30/06/1999
- Common non-COTAX assessment types
Payments are handled on IRIS for
- Overpayments allocated to OAS (Word 24kb)
For a list of functions to use in particular situations, see COM90021.
For legislation applying to this subject, see COM90022.
