HMRC are publishing an additional three “toolkits” to help tax payers and tax agents reduce errors in tax returns.
The new toolkits cover VAT input tax, inheritance tax and expenses and benefits from employment.
HMRC have been at great pains to stress that use of the toolkits is “voluntary” and that they don’t constitute a set of standards. The guides set out the taxman’s perspective on tax law and regulation (although they were developed in partnership with professional bodies), which tax advisers may choose to disagree with.
The toolkits can be found on the HMRC website.
Let us know if you have used the toolkits and how you got on with them. If you prefer to have a professional organisation look after your tax affairs then give Lewis Smith & Co. a call on 01384 235549.
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