Specialist Tax News

HMRC Toolkits

This controversial new material on HMRC’s website aims to highlight what they call common errors which they see on tax returns. They cover several different aspects of the tax system, and are of limited use in many ways as most of the errors they refer to are hardly likely to be made by us on your behalf!

Nevertheless we will be using the toolkits as part of our quality control process, and we will also consider mentioning that fact on your tax return whenever we feel that HMRC may otherwise query a particular entry. That should reduce the chances of an HMRC enquiry. The toolkits published cover the following topics, with more planned:

  • Personal and private expenditure (Sole Trader/Partnerships)
  • CGT for Trusts and Estates
  • Marginal Small Companies’ relief
  • Capital Allowances for plant and machinery
  • CGT for land and buildings
  • Trusts and Estates

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