New HMRC toolkits
HMRC have released 6 toolkits intended to help accountants and tax agents reduce the likelihood of mistakes in clients’ tax returns.
Although the use of these toolkits is optional, they each contain what is intended to be useful information for accountants and tax agents, including:
- checklists and explanatory notes;
- links to online guidance for more detailed information; and
- examples of the most common errors and explanations on how to reduce them
The toolkits cover:
- Capital Gains Tax for Land and Buildings
- Marginal Small Companies’ Relief
- Private and Personal Expenditure
- Capital Allowances for Plant and Machinery
- Trusts and Estates
- Capital Gains Tax for Trusts and Estates
The toolkits can be accessed at www.hmrc.gov.uk/agents/prereturn-support-agents.htm