You should not consider a IHTA84/S248 (1) penalty ( IHTM36106) for failing to remedy an error within a reasonable time unless the error is material. In the leaflet IHT 13 we have said that we regard an error as material if it produces additional tax of £1,000 or more. The £1,000 applies to the total tax at stake, so if two errors are discovered at the same time and the tax on each was less than £1,000 but when combined the total exceeds £1,000 then you should consider IHTA84/S248.
