DMBM402050 - Interest: Charging interest - by IT system: Charging interest in SAFE: Amend interest charge following manual calculation

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Where either the Interest Exception or Inhibit Interest signals are set any interestcharge will not be amended automatically. Where the interest position needs to be reviewedthe item will appear on the Clerical Interest worklist.

Interest is to be re-calculated manually, using the established manual calculationfunctions, for example the IRIS functions SAIN and CALC. Where the interest charge was inrespect of a cutover charge (see DMBM402040) reference shouldbe made to the charge and payment history information on the paper archived record. If the interest charge is being revised within three months of its creation refer to the papers which will have been filed following the initial manual calculation of the interest charge.

Interest charge paid

(This content has been withheld because of exemptions in the Freedom of Information Act 2000)

(This content has been withheld because of exemptions in the Freedom of Information Act 2000)Reset Clearing is used to transfer any payments on the interest charge to Unallocated Payments.The Amend Charge function is used to revise the interest charge to the new value. Once therevised interest charge is created the auto clearing process will automatically transferpayments from Unallocated Payments to the charge.

(This content has been withheld because of exemptions in the Freedom of Information Act 2000)

(This content has been withheld because of exemptions in the Freedom of Information Act 2000)Reset Clearing is used to transfer any payments on the interest charge to Unallocated Payments.The Amend Charge function is used to reduce the interest charge to nil, unless it wasalready paid.

Interest charge not paid

Use the Amend Charge function to revise the interest charge. (This content has been withheld because of exemptions in the Freedom of Information Act 2000)

An amended charge notification will only be issued for the revised interest charge ifinterest remains unpaid.