Let Property Campaign - Calculating interest

I have made a LPC disclosure on behalf of a client and have received a letter back saying the interest calculated is incorrect. I used the interest calculator on the HMRC website so unsure how it could be incorrect. My only thought is the interest calculated on payments on account, is the interest on the payments on account meant to be included in the overall interest figure or does the total interest figure only include interest on the balancing payment.

The total interest figure in the LPC disclosure should include interest on both balance payments and any payments on the account. Be sure to double-check your calculations and review the interest calculator inputs to resolve any discrepancies. If needed, seek help from HMRC or a tax professional to explain and guide you through the correct calculation of interest.

Hi holly.donohue24,

You will need to contact the Let Property Campaign team for further advice.

Let Property Campaign

Thank you