Description (Tax year summary)

Tax - This is a summary of the individual liabilities that make up the Tax element of the tax year ending you have selected.

Tax overpaid from return filed - This is a summary of how tax overpaid from the capture of your return for the chosen tax year has been used against outstanding amount(s) for a different tax year or has been repaid. This also shows where there has been a Credit Transfer Out of all or part of the overpaid amount.

Surcharges - This provides a brief description of the type of surcharge HM Revenue & Customs (HMRC) have raised or adjusted. Where '(adj)' is shown at the end of a description a further breakdown of that transaction is available by following the link.

Interest - This provides a brief description of the types of interest HMRC have raised or adjusted. Each description will start with either 'Late payment interest for' or 'Accruing late payment interest for'. 'Late payment interest for' means that you have paid the tax on which the interest is charged in full. The amount of interest shown has been calculated, on a daily basis on the amount of liability outstanding, from the date the liability should have been paid in full to the date it was finally paid. It will not increase further. 'Accruing late payment interest for' means that the liability on which HMRC are charging interest has not yet been paid in full. Interest is charged on a daily basis and the amount shown will increase each day until the liability is fully paid.

Penalties - This provides a brief description of the types of penalty HMRC have raised or adjusted. Further breakdowns are available by following the appropriate link(s).

Less payments for this year - This is a summary of how HMRC have allocated any payments you have made or credits they have posted to your account for the selected tax year.

Less other adjustments - This is a summary of any other adjustments made to your account.