New HMRC toolkits released
HMRC have released two new toolkits aimed specifically at helping accountants and tax agents reduce the likelihood of making mistakes in clients’ tax returns.
The new toolkits cover:
- Capital Gains Tax (land and buildings)
- Personal and private expenditure
Each toolkit is packed with 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 use of these toolkits is optional.
Previous toolkits published by HMRC covered:
- Marginal Small Company relief
- Capital Allowances on plant and machinery
- Trusts and estates
A further tranche of toolkits are expected to be launched in 2010. The launch of these toolkits is part of a pilot program by HMRC to support accountants and tax agents. To view the toolkits, accountants and agents must join the pilot by registering atwww.hmrc.gov.uk/prereturnpilot.