Personal tax accounts

Despite the delay in HMRC rolling out ‘Making Tax Digital’, they are moving forward with personal tax accounts.

To the optimist this is a great idea.  Salary, pension and interest information is all pushed through to HMRC saving time and effort in collating the information yourself and the amount of information they gather is set to increase over time.

To the pessimist the concern is whether the information pushed through from employers and banks will end up in the right place or what do you do if it’s wrong given the difficulty involved in speaking to someone at HMRC these days.

Whether your glass is half empty or half full, it’s important that you register now to access your personal tax account so you can get used to dealing with HMRC in this manner and check the information they hold for you.

One very useful function is that you can check your projected entitlement to state pension based on your employment history and can get this amended if there are any holes in their records.

If you need any help and guidance taking these steps or you have any other queries regarding your tax affairs then please give us a call on 01869 248740 and speak one of our team.