IHTM29093 - Interest yield: recording interest yield

When you have calculated the figure for the interest yield this should be recorded on ERS ( IHTM29100) in the interest box. For Lifetime and Settlement enquiries registered on ERSA ( IHTM29101) use the equivalent interest box.

If you issue more than one calculation that includes interest yield you will need to work out the interest yield for each calculation and record the revised cumulative total on ERS each time a new calculation is raised. If you withdraw a calculation you will need to recalculate the interest yield and amend ERS.

You should keep a record (either in the COMPASS notes box or at the front of the file) to show the interest yield for each calculation raised. The total amount of interest yield can then be easily checked when the enquiry is ready to be closed.

Additional interest

You should include any additional interest charged for late payment in your yield calculation if the record is still open on ERS ( IHTM29100) or ERSA ( IHTM29101). But, if all other aspects of the case are closed do not leave the ERS or ERSA record just to record the collection of the additional interest. Neither should you open a new ERS or ERSA record just to record additional interest.