HMRC are launching a further six toolkits to assist taxpayers and practitioners. The first six toolkits were launched on 17 May following what HMRC referred to as very positive feedback from the pilot scheme which ended on 31 January.
HMRC have stated that interest in the toolkits since the May launch has been high with over 11,000 unique visits to the initial landing page in the first month, along with high download figures for the toolkits themselves. They also cite positive feedback for the toolkits through the website feedback facility.
Six more toolkits are scheduled to be launched as follows within the next two months:
- capital v revenue
- losses
- VAT Input Tax
- directors loan accounts
- Inheritance Tax
- benefits from employment
The toolkits highlight the common errors that attract HMRC's attention and the steps that can be taken to reduce those errors. HMRC also state that they can also be used to help demonstrate that 'reasonable care' has been taken. The toolkits consist of a checklist, explanatory notes and links to further guidance. Further details on the toolkits already available here