COM30060 - Background: company taxation overview: credit and debit interest

»Ê¹ÚÌåÓýapp regulations introducing quarterly instalment payments (QIPs) of tax by large companies took effect at the same time as the introduction of CTSA. From 1 April 2019 changes to this regulation introduced Very Large companies 

Those regulations impose debit interest on companies that are liable to make instalments.

»Ê¹ÚÌåÓýapp same regulations also entitle all companies to be paid credit interest by HMRC if they pay tax earlier than the normal due date.

See:

  • COM80000 for full details of the operation of credit and debit interest
  • COM30021 for legislation applying to this subject.