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IHTM30501 | Remissions: introduction

From HM Revenue & Customs · Inheritance Tax Manual

We are required to keep records of:

  • remissions (IHTM30502) of interest on tax

  • non-statutory remissions and irrecoverable assessments (IHTM30502)

  • cases compromised (IHTM30531) upon a point of law

  • losses due to departmental error (IHTM30541)

  • erroneous or excessive repayments of tax (IHTM30551).

Records are also kept of cases where the value of a holding of quoted stocks and shares (IHTM18061) has been reduced because of the size of the entire holding - those are dealt with by Shares Assets and Valuation (SAV).