Monthly Archives: July 2012

Toolkits to help reduce errors

The HMRC has revised the list of toolkits as a guidance on areas of errors that are frequently seen in returns. The idea of these kits is to reduce these errors.These should help taxpayers to:

  • ensure that returns are correct in material respect;
  • focus on the areas of possible error that HMRC consider key
  • demonstrate reasonable care

The complete list is as follows:

Individuals, business and corporations

Business Profits (PDF 179K)
Capital Allowances for Plant and Machinery (PDF 174K)
Capital Gains Tax for Land and Buildings (PDF 228K)
Capital Gains Tax for Shares (PDF 178K)
Capital v Revenue Expenditure (PDF 145K)
Chargeable Gains for Companies (PDF 219K)
Company Losses (PDF 218K)
Directors’ Loan Accounts (PDF 144K)
Expenses and Benefits from Employment (PDF 206K)
Income Tax Losses (PDF 124K)
National Insurance Contributions and Statutory Payments (PDF 212K)
Private and Personal Expenditure (PDF 174K)
Property Rental (PDF 231K)
Small Profits Rate and Marginal Relief (PDF 112K)
VAT Input Tax (PDF 182K)
VAT Output Tax (PDF 208K)
VAT Partial Exemption (PDF 171K)

Trusts and Estates

Capital Gains Tax for Trusts and Estates (supplement) (PDF 237K)
Inheritance Tax (PDF 205K)
Trusts and Estates (PDF 221K)