SAM60055 - Interest, penalties and surcharge: interest: effective date of payment
The effective date of payment (EDP) is the date on which payment is effective for the purposes of determining interest. It may also be used to calculate repayment supplement.
The EDP for different types of payment is shown in the following table
|
Payment type |
Effective date of payment (EDP) |
|
Cheque, postal order, cash |
Normally the date of receipt of the payment by HMRC but if the payment was received in the post following a day when the office was closed the EDP is the day the office was first closed. For a payment received in Monday’s post, the EDP will normally be the previous Saturday. However, if the previous Friday was a holiday then the EDP of a payment received in Monday’s post is the Friday. If Monday is a holiday then payments received in Tuesday’s post are given an EDP of
If Friday was also a holiday,
|
|
Post-dated cheque |
The date of the cheque |
|
BACS, CHAPS, Paymaster |
One working day before value is received by HMRC |
|
Bank Giro, and other credits received direct |
Three working days prior to date of processing. (If not processed on date of receipt the EDP is the date of receipt) |
|
Direct Debit |
The day before collection day. (The collection day is the 5th, 12th, 19th and 26th of each month, or the next working day) |
|
Girobank |
The opening balance date shown on the Girobank statement. (In the case of the opening balance date being a Saturday, the EDP will be the previous Friday) |
