Other statutory exemptions

There are a number of other statutory exemptions for interest in Chapter 9 of Part 6 of ITTOIA05. The main ones are as follows.

Repayment supplement

A repayment supplement is added when HMRC makes a repayment of income tax, surcharge on late paid tax, or penalty to an individual or other non-corporate. Under ITTOIA05/S749, this is not treated as income for any purposes. There are corresponding provisions for supplement on repayments of capital gains tax, stamp duty or inheritance tax.

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