VDIM7120 - When to inhibit, amend or withdraw interest: Bulk assessments

This guidance deals with interest matters in respect of prescribed accounting periods starting on or before 31 December 2022. Interest matters with effect from 01 January 2023 are dealt with under Finance Act 2009.

Please see Compliance Handbook page CH140000 onwards to find the new interest rules guidance.

The Interest Bearing Tax (IBT) maybe incorrect due to the input of a bulk assessment (period 00/00) as the computer does not recognise these periods for interest purposes.

The IBT will need to be increased by the amount in the period 00/00 in order for the correct amount of interest to be calculated, see VDIM6000.