Extra-statutory concession | Practical Law

Extra-statutory concession | Practical Law

Extra-statutory concession

Extra-statutory concession

Practical Law UK Glossary 8-107-5731 (Approx. 3 pages)

Glossary

Extra-statutory concession.

A relaxation which gives a taxpayer a reduction in tax liability or other favourable tax treatment to which he is not entitled to under the strict letter of the law. Most concessions are made to deal with minor transitory anomalies. They are of general application but in particular cases there may be special circumstances which must be taken into account in considering the application of the concession.
For further information, see the HM Revenue & Customs website.