Ms Josephine Feehily:

Interest is almost always applicable. It depends on how quickly an adjustment is made. If somebody comes in really quickly, in the context of a self-review, we might decide that interest was not to be charged. What happens in a negotiation around an audit is, quite often, a round sum amount is settled. That is part of the judgment that we have to allow our auditors to exercise. In round sum amounts, and again one of the cases here is like that, the auditor divides the amount into tax and interest. It is essential - and is part of our instructions to our auditors - that an interest amount must be secured and must be recorded. That is part of the work that we have to deal with following this chapter, is that it is not always recorded properly.