HMRC launched six toolkits setting out how agents can reduce the likelihood of mistakes occurring in the preparation of clients' 2009/10 returns. The toolkits available via www.lexisurl.com/1GbHI cover capital gains tax in relation to land and buildings; marginal small companies relief for corporation tax; private and personal expenditure (for income tax self assessment); capital allowances for plant and machinery; and trust and estate returns. A supplementary toolkit deals with CGT for trusts and estates.
Around 600 accountancy firms tax practitioners and solicitors pilot tested the toolkits. Their use is voluntary and the CIOT said it would be opposed to making them 'mandatory in any way'. Use of a toolkit would normally be accepted by HMRC to show that reasonable care has been taken by the practitioner but 'not using the toolkit will not be taken to show that reasonable care has not been taken'.
The...
