HMRC Compliance toolkits - a novel approach

Posted by AccountingWEB PM | on Mon, 30/03/2009 - 06:21 2712 2 comments

HMRC has been quietly developing agent toolkits for optional use, and is now ready for volunteer agents to try them out before they are made available widely.

The idea behind the agent toolkits is that they identify the key risks of mis-statement in relation to a particular tax issue, and provide the agent with simple tools to allow them to address these risks on behalf of their client.

The first toolkit relates to a fairly minority area in terms of agent numbers - Capital gains tax for trusts.

Continued...

AH but

RebeccaBenneyworth | Mon, 30/03/2009 - 18:56 | Permalink

I think this is going to be work that we already do in the course of putting the accounts together. Which means that by recording it we can reduce a client's risk of compliance check as his risk score reduces. (Added value for the professional adviser, good news for client and cash saving for HMRC - and therefore us as taxpayers)

I await developments with interest.

Shall we do all of their work?

Malcolm Veall | Mon, 30/03/2009 - 14:06 | Permalink

While I wil be very interested in the content of these; and in adding them, where appropriate to my internal checklists - it is astonishing that HMRC want us to carry out their risk review - the logical next step is for IRIS etc to have to add this into the software so that the relevant ticks for "risk areas assessed" can be added to the returns.

Shall we then do both sides of the enquiry? That would mean HMRC would not need any staff at all.