We have reviewed, refreshed and republished 15 out of 20 HMRC Agent Toolkits.
Many areas of risk have been updated or re-written - and some new ones have been added. For example, there are three new risks in the Capital Allowances for Plant and Machinery Toolkit, covering:
• claims for expenditure on energy-saving plant and machinery
• asset ownership at the time of introduction to the pool
• changes to Annual Investment Allowance during a chargeable period.
The Business Profits Toolkit has a new risk that deals with expenditure on business entertaining.
In response to your customer feedback, the checklist in the updated toolkits now allows you to add and save client names, accounting periods and reference notes. You can also save the information electronically, or print a hard copy.
If you haven’t used our toolkits yet, why not find out more about them? Many agents are finding them extremely useful in helping to avoid the most common errors in tax returns.
You may also find our HMRC Agent Toolkits video helpful.