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The toolkits can help to reduce preparation time for the returns for submission deadlines. Tax has become a lot more complicated, so toolkits can make life a little easier for professional advisors will make a difference
—Chas Roy-Chowdhury, head of taxation, ACCA

HM Revenue and Customs is reminding tax professionals of its toolkits to help experts when filling out returns

Toolkits from HM Revenue and Customs (HMRC), aimed to help reduce errors in tax returns, have been broadly welcomed by ACCA (the Association of Chartered Certified Accountants) as they could help busy accountancy advisors.

HMRC is in the process of sending out reminder letters to tax agents about the existence of these toolkits and want feedback from those who are already using them.

There are 20 toolkits covering a range of taxes including Income Tax, Corporation Tax, Capital Gains Tax (CGT) and Value Added Tax (VAT). Some specific areas include Directors’ Loan Accounts, Losses and Capital Allowances.

The toolkits provide guidance on areas of error that HMRC frequently see in returns and set out the steps that professional agents can take to reduce those errors. They aim to help and support, but are not mandatory, in:

  • ensuring returns are completed correctly, minimising errors
  • focusing on the areas of possible error that HMRC consider key 
  • demonstrating reasonable care.

They are updated at least annually to make sure they are up-to-date and relevant.

Chas Roy-Chowdhury, ACCA’s head of taxation, said: 'These toolkits are helpful guidance for tax professionals which they can use when they are completing tax returns for their clients.

'The toolkits can help to reduce preparation time for the returns for submission deadlines. Tax has become a lot more complicated, so toolkits can make life a little easier for professional advisors will make a difference.

'HMRC is also keen to receive feedback about the toolkits, which you can give on its website.'

  • To find an ACCA accountant to hire for a variety of financial services, and to feed back about the HMRC toolkits, visit the 'Related Links' section, to the left of this article.