SAM123230 - Returns: trust returns: capture of trust return after 31 December: RC cases only
Where Revenue Calculation is requested and the return is received before 31 October but not processed until after 31 December of the year following the return year, the balancing payment due date is 30 days after the issue of the statement to the trustee notifying the amount due. The first payment on account is also due 30 days after the trustee is notified on the statement.
In these cases the balancing payment due date will have been automatically set as the 31 January as the return was not issued late, and the payments on account due dates will be set as 31 January and 31 July.
The balancing payment due date and first payment on account due date need amending to 30 days from the date of issue of the statement. (Exceptionally where the return is processed very late the due date of the second payment on account may also need amending where it is after 31 July.)
The due dates of a balancing payment or payment(s) on account cannot be amended until the liability has been calculated and the SA record updated with the charge. For this reason from 31 December following the end of the return year all Revenue Calculation cases received before 31 October but not processed until after 31 December must be reviewed by the Review Interest Network Officer following receipt of the output from TSS.
The Review Interest Network Officer reviews each case and uses function AMEND RELEVANT DATES where necessary to amend the balancing payment or payment(s) on account due dates.
For more detailed information see section ‘Interest’ in business area ‘Interest, Penalties and Surcharges’.