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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)