PAYE54265 - Employer returns: regulation 80 determinations: interest charges: regulation 82 and schedule 1, para 20.

All interest bearing determinations

Forewarn employers of the interest charge

• if an opportunity presents itself before a determination is made
• and again when you make it (form P380B contains the warning on the determination).

Note these points about the treatment of interest on late paid Regulation 80 tax

• it is not available as a credit against the personal assessment charge on the director or employee
• it is not a benefit under S223 ITEPA2003
• a direction under Regulation 81(4) 2003, Condition A or B in respect of tax determined after 19 April 1988 includes the accrued interest on that tax.