Toolkits Updated
At the HMRC seminars for NI members held in April, there was some evidence that members are not familiar with HMRC's online toolkits. Covered on a number of occasions by Chartered Accountants Tax News, the Toolkits have been developed by HMRC with the intention of helping reduce common errors when completing returns.
HMRC has now published eleven updated Toolkits, including those covering Capital Gains Taxes and Trusts and Estates and updated Property Rental Toolkit, Directors Loan Account Toolkit and Company Losses Toolkit. The Toolkits for Private and Personal Expenditure, Capital Allowances for Plant and Machinery and Income Tax Losses Toolkits have also been updated to assist agents when completing 2011–12 returns.
More information on the toolkits together with the newly updated versions is available at http://www.hmrc.gov.uk/agents/prereturn-support-agents.htm