COM81010 - Interest: interest work lists: clerical interest indicator work list (CIIW)
This subject is presented as follows:
How often should the list be reviewed?
The normal next action function
Purpose of the list
There are two versions of the Clerical Interest Indicator work list
- Function CIIW is the update version
- Function CIIV is the view only version
The purpose of this work list is to show you all the cases where the clerical interest indicator has been set and because of this COTAX has been
- Unable to calculate and post late payment interest on the company record
Or
- Revise the late payment interest position
You should consider whether you need to calculate and raise/amend late payment interest.
If you decide that the late payment interest situation on the AP is correct you can delete the case from the work list. Otherwise you should calculate and raise the correct charge using Function RMIC (Raise Manual Interest Charge).
How often should the list be reviewed?
Local management should ensure that the work list is reviewed on a weekly basis.
Who does what?
An Assistant Officer will normally review and control the list. They will determine whether late payment interest needs to be calculated and raised/amended manually.
When are new entries added?
COTAX adds new entries to this work list daily.
Reason for entry
COTAX enters a case on the Clerical Interest Indicator work list when the Clerical Interest Indicator (CII (Word 32KB)) is set to ‘Y’
- By a user in the Banking Operations Office or Debt Management Office using Function RAPP (Revise AP Pursuit) and
- The tax has been paid or remitted in full
But
- No interest charge has been raised
- By a user in a CT Processing Office using MAPS (Maintain AP Signals) because
- COTAX will get the interest wrong in a carry-back case
- Automatically by COTAX where
- an ACT, trade loss or a non-trading deficit carry-back previously resulted in repayment or reallocation and
- A further event is recorded on the record, for example the assessment is amended
- Automatically by COTAX where S458 CTA 2010 relief (formerly S419(4) ICTA 1988) is granted
- Automatically by COTAX where the number of interest accruals exceeds 200
Sorting and filtering options
Before you start to work cases, you may want to sort and filter the work list to make it more manageable. You can do that by using any of the criteria below. The criteria shown in bold are those you may find most useful when filtering the Clerical Interest Indicator work list.
- District
- Reference
- Name
- AP number
- B/F date
- B/F note
- Entry date
- Participator
The normal next action function
The normal next action function for the Clerical Interest Indicator work list is
- Function VPPD (View Payments and Postings Details)
Automatic deletion
Cases are automatically deleted from the work list when one of the following actions takes place
- You raise a manual late payment interest charge using function RMIC (Raise Manual Interest Charge)
- The clerical interest indicator (CII) is set to ‘N’
- The case is transferred to a new office. The case will automatically appear on this work list in the new office
Manual deletion
You can delete the case manually from the list where
- The clerical interest indicator needs to remain set at ‘Y’
And
- You do not need to raise a manual late payment interest charge
For a list of forms relevant to this subject, see COM81011
For a list of functions to use in particular situations, see COM81012
For legislation applying to this subject, see COM81013