DMBM400000 - Interest: Contents


Interest is charged to provide a measure of fairness between those customers who pay on time and those, who for whatever reason, pay late. Also interest is used to compensate the Exchequer for the loss of the use of the funds.

The legislation covering the charging of interest has been introduced over a long period of time and covers many charges and duty types. The rules for calculating interest often differ across the range of charges, duties and the various customer groups; for example employers, self employed and companies.


DMBM400010

Tables of Interest

DMBM401000

Interest on late payments

DMBM402000

Charging interest - by IT system

DMBM403000

Interest on reallocations and repayments - by IT system

DMBM404000

Handling interest objections and enquiries: Debt pursuit office

DMBM405000

Interest Review Unit (IRU)