In this paper, a novel method of transcoding of HEVC encoded video is presented. The novel approach enables a very fast transcoding without the need for the image reconstruction. It is based on the principle of removing of the carefully selected coefficients from the bitstream. The removal of coefficients is done on the bitstream level and can easily be tailored to software as well as hardware implementations. The technique is able to provide a bitrate reduction in the order of up to 10%, with the image quality decrease of about 0.2-0.5dB.