Description

A description of the type of payment made or allocated.

Electronic Payment - These are payments made to HM Revenue & Customs viaelectronic means, either Bacs (Bankers Automated Clearing Service), CHAPS (Clearing House Automated Payments System), Giro Bank Credit or Direct Debit.

Cheque Payment - These are payments made to HM Revenue & Customs by cheque, cash or Postal Order. Cheque payments shown as zero represent Nil Declarations, where the company has returned no liability for an accounting period.

HM Revenue & Customs Credits - These are payments that reach the company tax account via another HM Revenue & Customs system and have been transferred internally. For example, a payment that was initially allocated incorrectly against the companys' PAYE liability.

Reallocations - Movements of money 'into' or 'out of' this accounting period. The date shown is the date the reallocation was posted to the HM Revenue & Customs Corporation Tax computer system.

Transactions are described as either:

• 'Reallocation to Accounting Period Ending (APE) dd Mmm yyyy' where money has been moved from this company accounting period to another
• 'Reallocation from APE dd Mmm yyyy' where money has been moved from another accounting period to this one.

Where 'dd Mmm yyyy' represents the accounting period 'from which', or 'to which', the money was moved. Reallocation transactions that decrease the accounting period balance are shown as negative amounts. Positive transaction amounts indicate an increase to the accounting period balance.

Miscellaneous Transfers - Reallocation transactions (see above) are sometimes described as 'Miscellaneous Transfers'.These represent situations in which money has been moved into, or out of, the company tax account entirely. For example, movements of money to or from the company PAYE account, inter-company movements, or previously unidentified payments transferred from one of the HM Revenue & Customs Accounts Offices.