DMBM402010 - Interest: Charging interest - by IT system: Charging interest in SAFE: Contents and overview in SAFE

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The legislation and business rules for charging interest on tax and duty types in SAFEare unchanged as a result of the introduction of SAFE. However as SAFE is based on acommercial package tailored to meet HMRC’s requirements, the processes for thecalculation and charging of interest are different to those relating to other Head of Dutysystems.

The following paragraphs explain what these processes are.

1. DMBM402020

   Automatic calculation and raising of an interest charge
2. DMBM402030

   Automatic calculation and amendment of an interest charge
3. DMBM402040

   Create interest charge following manual calculation
4. DMBM402050

   Amend interest charge following manual calculation
5. DMBM402060

   Clerical interest signals
6. DMBM402070

   Clerical interest worklist
7. DMBM402080

   Auto clearing process
8. DMBM402090

   Amendments to Effective Date of Payment (EDP)