It will usually be unnecessary to make an interest determination as the objective in an enquiry is to negotiate an agreed settlement covering tax lost, interest and penalties.
Where it is not possible to achieve a contract settlement,
probably because of lack of co- operation, and there are no means
problems, an appropriate interest determination should be made.
The issue of a closure notice under FA03/SCH10/PARA23 will
amend the land transaction return triggering an interest
determination.
An appeal may not be lodged against the interest
determination.
Interest is collected as if it were tax charged in the
assessment to which it relates.
