Chapter SAM132051
| Published date | 08 April 2016 |
| Record Number | SAM132051 |
| Court | HM Revenue & Customs |
| Issuer | HM Revenue & Customs |
Open item statements
...
The payment credit transactions reported on taxpayer Open Item statements and the descriptions used for the different kinds of payment credits are as follows.
Note: The descriptions on the statements created before December 1998 may differ slightly from those in the table below.
| Payment credit | Description of credit not allocated to a charge | Description of credit allocated against a charge |
| Payment | Payment £..9999.99 balance unallocated £..999.99 | From payment made …….. (date) |
| Transfer from OAS | Credit £..9999.99 balance unallocated £..999.99 | Credit transferred in …….. (date) |
| Freestanding credit | Credit £….999.99 balance unallocated | From credit introduced ……. (date) |
| Balancing charge credit | Overpayment from YY/YY return | From overpayment from YY/YY return |
| Repayment supplement | Repayment supplement …….. (date) to …….. (date) | From supplement …….. (date) to …….. (date) |
| A cancelled repayment | Repayment cancelled on ……. (date) | When a repayment is cancelled the credit becomes available for allocation against any new charge. |
If the credit is subsequently allocated against a new charge it takes on one of the previous descriptions in this column of the table. The description is related to the origin of the credit.
| For example, if the origin of the credit is a balancing charge credit it is described as ‘From overpayment from YY/YY return …….. (date)’. |
Notes:
| 1. | A credit ceases to be an Open Item when |
| * The total credit has been allocated against one or more charges, and | |
| * No part of the credit can be described as unallocated | |
| 2. | The date shown in the description of the first two payment credits is the effective date of payment (SAM60055). |
To continue reading
Request your trial