Hi, Anyone know if HMRC can apply interest on any amount determined to be due years later after issuing of HMRC Notice of Assessment under Section 29 of 1970 Act? Or under the 'Assessment' notice they can only demand the tax was due on the year?
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Interest on amount due to HMRC Notice of Assessment under Section 29 of 1970 Act
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Late payment interest accrues from when the amount was due.
For example, if HMRC had issued an assessment for 2010/11, and you settled now, there would be 14 years of interest on top.Comment
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Originally posted by Nava39 View PostHi, Anyone know if HMRC can apply interest on any amount determined to be due years later after issuing of HMRC Notice of Assessment under Section 29 of 1970 Act? Or under the 'Assessment' notice they can only demand the tax was due on the year?Comment
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