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From 7 May 2022, taxpayers will have to make postal claims on the revised P87 form for income tax relief on employment expenses. HMRC will reject claims that are made on substitute forms which have been widely used by high volume repayment agents.
Changes have been made to the P87 form to include functionality for multi-year claims. Robotics will accelerate the processing of the updated form, as long as claims do not include attachments.
The Institute of Chartered Accountants in England and Wales welcomes the increased transparency that this change should bring. It considers that many taxpayers may not have understood that they are signing a deed of assignment when it is included on a substitute claim form. It also gives HMRC the opportunity to check deeds of assignment carefully to ensure that they are compliant.
