IHTM30501 - Remissions: introduction

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).