Jump to Content
Jump to Main Navigation
User Account
Sign in to your personal account
Not registered?
Sign up for a personal account
Have an access token?
More
Subscribe
How to use this site
BPRO
Menu
Home
All Content
Cases
Commentary
Legislation
Precedents
News
New Platform
My Content
(0)
Recently viewed
(0)
Save Entry
My Searches
(0)
Recently viewed
(0)
Save Search
Print
Save
Cite
Email this content
Share Link
Copy this link, or click below to email it to a friend
Email this content
or copy the link directly:
https://www.bloomsburyprofessionalonline.com/view/vat_default_interest_manual/vat_default_interest_manual.xml
The link was not copied. Your current browser may not support copying via this button.
Link copied successfully
Copy link
Print
Save
Cite
Email this content
Share Link
Copy this link, or click below to email it to a friend
Email this content
or copy the link directly:
https://www.bloomsburyprofessionalonline.com/view/vat_default_interest_manual/vat_default_interest_manual.xml
The link was not copied. Your current browser may not support copying via this button.
Link copied successfully
Copy link
Show Less
Restricted access
VAT Default Interest Manual
Publication Date:
2025
Publisher:
Bloomsbury Professional
Copyright:
2025 Crown
VAT Default Interest Manual
Guidance on dealing with VAT default interest
Last update
: 28th February 2025
GO
Contents
Contents
Expand All
Collapse All
Close section
VDIM1000: Introduction
VDIM1010: Who is this guidance for
VDIM1020: How to use this guidance
VDIM1030: What is Default Interest
VDIM1040: Where to go for advice
Close section
VDIM2000: The Law and legal powers
VDIM2010: The Law supporting default interest
VDIM2020: Establishing liability to interest
VDIM2030: Reckonable dates
VDIM2040: 3 year limit of interest
VDIM2050: Discretion to assess interest or not
VDIM2060: Debt due to the crown
VDIM2070: Time limits for assessing interest
VDIM2080: The 2 year time limit to assess further interest
Close section
VDIM3000: Commercial Restitution
VDIM3010: General principles
VDIM3020: Whether to charge interest or not
VDIM3030: Assessments which represent commercial restitution in part
VDIM3040: Assessments in respect of exports and removals to other EU countries
VDIM3050: Differences in stagger or return length between taxpayers
Close section
VDIM4000: Calculating liability
VDIM4010: Confirming the liability
VDIM4020: Amount liable to interest
VDIM4030: Over declaration
VDIM4040: Recovery assessments
Close section
VDIM5000: Calculation of interest
VDIM5010: Rates of interest
VDIM5020: The interest span
VDIM5030: The reckonable date
VDIM5040: The end date
VDIM5050: Setting the calcualtion date
VDIM5060: The issue date
VDIM5070: The interest calculation formula
VDIM5080: Further interest
VDIM5090: De minimis limit
VDIM5100: Interest Calculation Record
VDIM5110: How to access and read an Interest Calculation Record (ICR)
VDIM5120: Interest calculation record codes
VDIM5130: Interest bearing tax payments
VDIM5140: Overview of interest procedures
Close section
VDIM6000: Interest adjustments
VDIM6010: Functions of Form VAT663
VDIM6020: When to use Form VAT663
VDIM6030: Completion of Form VAT663
VDIM6040: Countersigning Form VAT663
VDIM6050: Processing Form VAT663
VDIM6060: After input of Form VAT663
VDIM6070: VISION option to calculate interest
Close section
VDIM7000: When to inhibit, amend or withdraw interest
VDIM7010: Discretion to inhibit interest
VDIM7020: Commercial restitution
VDIM7030: Appeals
VDIM7040: Computer distortions
VDIM7050: Misappropriation of remittances
VDIM7060: Complicated retrospective agreements
VDIM7070: Actual issue date is after issue date on VISION
VDIM7080: Postal delays
VDIM7090: VAT returns provided at visits
VDIM7100: Departmental delay
VDIM7110: The two year time limit
VDIM7120: Bulk assessments
VDIM7130: VAT assessments involving suspected fraud
VDIM7140: When interest is not appropriate
Close section
VDIM8000: How to inhibit, amend or withdraw interest
VDIM8010: Introduction
VDIM8020: Amending interest following misappropriaition of a remittance
VDIM8030: Inhibiting or withdrawing interest on an assessment
VDIM8040: Setting an inhibit after an assessment is processed
VDIM8050: Amending interest after an assessment has been processed
Close section
VDIM9000: Circumstances affecting default interest
VDIM9010: Transfer of a going concern
VDIM9020: Deregistration
VDIM9025: Joining a VAT group
VDIM9030: Insolvency
VDIM9040: Informal insolvency
VDIM9050: Redundant registrations
VDIM9060: Manual calculation of interest
VDIM9070: Withdrawing or reducing interest
VDIM9080: Pre-repayment credibility queries
VDIM9090: Bulk period assessments
VDIM9100: Long first period returns
Close section
VDIM10000: Notices
VDIM10010: Notifying the taxpayer
VDIM10020: Notice of further interest - use of VAT658
VDIM10030: Notice of further interest - use of VAT659
Close section
VDIM11000: Management information prints
VDIM11010: Notes for managers
VDIM11020: D1684 Notification of appeals indicator set or lifted
VDIM11030: D1686 Change of interest notification
VDIM11040: D1688 Notification of officers assessment issued
Close section
VDIM12000: Reviews and appeals
VDIM12010: What in law may be appealed
VDIM12020: Review and appeals procedures
VDIM12030: Suspending interest under appeal
VDIM12040: Reason why a taxpayer might appeal
VDIM12050: Use of the VAT647 to lift the Appeals Indicator
VDIM12060: Interest following HMRC's success at tribunal
VDIMUPDATE001: update index
[18.97.14.84]
18.97.14.84