Tax return errors

HMRC has updated its tax toolkits for “Business profits” and “Capital v Revenue expenditure” for 2018/19 – the latest HMRC toolkits. It publishes around 20 toolkits covering a wide range of tax topics from trusts to VAT claims.

General access

HMRC says the toolkits, which focus on issues that it has identified as troublesome, are to help accountants and tax advisors avoid mistakes when preparing their clients’ tax returns. However, the toolkits are open to anyone to access and might prove helpful if you complete your tax returns yourself or want to check what HMRC has to say about entries made by your accountant.

HMRC’s toolkits identify areas of tax where it believes mistakes are commonly made when completing tax returns. It’s recently updated its toolkits for “Business profits” and “Capital v Revenue expenditure”.

The Next Step – To HMRC’s toolkits.