Commentary

V5.362 Period for which interest runs

Part V5 Compliance, enforcement and appeals

V5.362 Period for which interest runs

V5.362 Period for which interest runs

Unless the date is otherwise specified, interest runs from the reckonable date even if that date is a non-business day1. For the reckonable date, see V5.361.

Unless otherwise specified, interest runs until the tax or other amount is paid2. However, if tax giving rise to a charge to interest is paid within the period notified3 by HMRC, it is treated as paid on the date to which interest has been assessed4.

As regards assessments made (to which VATA 1994 s 74(1) applies) and tax paid (to which VATA 1994 s 74(2) applies) after 30 September 19935,

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