We have 20 Agent Toolkits. Each one focuses on the common errors people make when completing tax returns - and gives agents tips on how to avoid them.
We refresh the toolkits each year. So far 18 have already been done, including the three for VAT which were published in July - leaving only two: Inheritance Tax and Small Profits Rate and Marginal Relief both to be updated in September.
We use an experienced team of technical specialists, risk and intelligence staff and our own accountants to review each risk that the toolkits address, so you can be assured they are up to date and reflect HMRC’s latest thinking.
This year we’ve responded to your feedback and introduced a new facility in the Checklist section, allowing you to enter details such as client name, accounting period and notes. You can also save the checklist electronically, or print it out.
The toolkit that has changed the most this year is the one on Capital Allowances for Plant and Machinery. Three risks have been substantially re-written, and there are three new ones, addressing errors seen with:
- Energy-saving plant and machinery
- Asset ownership at the time of introduction to the pool
- Changes to Annual Investment Allowance during a chargeable period.
You can download all 20 toolkits (as PDFs) here.
Whether you are a new or experienced toolkit user, we would like to know what you think of them. You can send your feedback using this online form. Please take the time to tell us - your comments will help us to prioritise the toolkits we review, and to make even more improvements.