What is a Personal Tax Account?

Personal Tax,

According to HMRC, your Personal Tax Account enables you to ‘manage your tax affairs online, quickly and simply, whenever you want.’ It’s intended as a way for Taxpayers to access their records online, without contacting HMRC.

Development has been halted whilst HMRC’s focus is on Brexit, but there are already lots of services that you can access. More than 16 million people are already using their Personal Tax Account, and there are some definite reasons to log on and have a look at the information it contains.

What can you do with a Personal Tax Account?

The list of available services is quite lengthy, but here are some key options:

  • Notices of Coding – After many years where Notices of Coding have appeared to be wildly inaccurate, you can now check yours through your Personal Tax Account. As important, you can check whether HMRC has correctly estimated any income other than through PAYE, which will affect your notice of coding.  If you do find that a change is needed, this can be done directly, without needing to speak to HMRC.
  • PAYE – Employees can check the information submitted through the payroll process, rather than wait for P60s or P45s. Errors do happen, and it’s far easier to get discrepancies corrected before trying to move between jobs.
  • State Pension Entitlement – You can check your State Pension Entitlement and see all of your National Insurance Contributions too. You can see whether your pension will be what you were expecting, or less and deal with any differences.
  • Check or change the address HMRC have on record.
  • Manage your tax credits or Child Benefit payments.
  • Find your Unique Taxpayer Reference (UTR) or National Insurance number.

If you’re unsure about any of your Personal Tax information and you’re a client, please get in touch. If you’re struggling with your Personal Tax and you’re not yet a client, why not get in touch and have a chat about how we can make things clearer for you?

HMRC have an online guide to explain more about the Personal Tax Account. Find it here: http://www.hmrc.gov.uk/courses/syob4/pta_guide/?utm_source=HMRC-Gov-Link&utm_campaign=PTA&utm_medium=URL

 

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