HM Revenue & Customs (HMRC) has completed the annual refresh of the agent Toolkits to help reduce errors.
All the risks addressed by the toolkits are up to date and include HMRC's latest thinking. Experienced technical specialists, risk and intelligence officers, and departmental accountants have reviewed each toolkit risk.
Examples of some new risks included in this year's toolkits are:
- Capital Gains Tax for Shares Toolkit - two new risks have been added to address unattached computations and re-investment relief for gains invested under the Seed Enterprise Investment Scheme (SEIS).
- Capital Allowances for Plant and Machinery toolkit - a new risk has been added in respect of the new rules on acquisitions and disposals of property with fixtures that are plant and machinery.
Two toolkit milestones reached in June were:
- the 340,000th toolkit was downloaded
- the 65,000th Property Rental Toolkit was downloaded. This is the most downloaded of the toolkits.
Please see future 'What's new' messages for details of further refreshes.