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HMRC internal manual

Shares and Assets Valuation Manual

Correspondence and Customer Service: Interest Remission for Delay

Interest on tax can be remitted if there is evidence that unreasonable delay or a mistake by HMRC has unnecessarily contributed to the accrual of interest. If the person responsible for calculating the tax (whether it is Income Tax, CGT, Corporation Tax or Inheritance Tax) receives a request that interest be remitted in a case where SAV has been involved, you may be asked to supply a diary of the correspondence which we conducted. The diary will show when we failed to take substantive action within the (at present) 15 working day turnaround target. You may also be asked to comment on the claim for interest remission. A similar request may also come to you from the Interest Review Unit which deals with objections to interest charges on all taxes except IHT.

You should inform your manager if you receive such a request and discuss any problems with him/her. Either the case or copies of the request and your reply should be sent to the SAV Customer Service Manager for record purposes.

  Additional Guidance: SVM150000