ACCA - The global body for professional accountants
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 press release.

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For more information, please contact:

Alana Sinnen, ACCA Newsroom
+ 44 (0) 207 059 5807
+44 (0) 7715 812120
alana.sinnen@accaglobal.com 

Notes to Editors

  1. ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. We aim to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management. 
  2. We support our 154,000 members and 432,000 students in 170 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. We work through a network of over 80 offices and centres and more than 8,400 Approved Employers worldwide, who provide high standards of employee learning and development. Through our public interest remit, we promote appropriate regulation of accounting and conduct relevant research to ensure accountancy continues to grow in reputation and influence. 
  3. Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. We believe that accountants bring value to economies in all stages of development and seek to develop capacity in the profession and encourage the adoption of global standards. Our values are aligned to the needs of employers in all sectors and we ensure that through our qualifications, we prepare accountants for business. We seek to open up the profession to people of all backgrounds and remove artificial barriers, innovating our qualifications and delivery to meet the diverse needs of trainee professionals and their employers.