DMBM610050 - Pre-enforcement: interest in enforcement proceedings: interest in contract settlement cases
Some content of this manual is being considered for archiving. If there is content you use regularly, please email [email protected] to let us know as soon as possible.
Interest is charged on late payment of a contract settlement. It is contract interest, not statutory interest under the Taxes Management Act 1970, although it is charged at TMA70/S86 rates. »Ê¹ÚÌåÓýapp amount of a contract settlement that attracts late payment interest will be specified in the dedicated box on form 94A(2).
It may be charged in all contract cases and some non-contract cases, from the due date or, where the contract specifies payment may be made by instalments, from the date of each instalment. »Ê¹ÚÌåÓýapp normal rules about aggregation of interest apply.
SAFE will raise interest in contract settlement cases.