Personal Savings Allowance guide

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  • colsten wrote: »
    I'm not a Mr. :D



    I agree, if the only income is from salary/pension and savings, a tax return can be completed in less time than it takes to wait for HMRC to answer the phone. Everybody is entitled to do a tax return, even if HMRC do not ask for one.

    I apologise for the 'Mr' assuption, Colsten! Do i take it that anyone can apply for an 'online' Tax assessment, if you have never previously completed one before?
    I was under the impression that HMRC were limiting this facility to a limited number of existing tax return 'customers' for the time being? Thanks.
  • colsten
    colsten Posts: 17,597
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    Sadsaver wrote: »
    Do i take it that anyone can apply for an 'online' Tax assessment, if you have never previously completed one before?
    you sure can. You can probably do it straight away if you have a GOV.UK VERIFY ID or can get one.
    Sadsaver wrote: »
    I was under the impression that HMRC were limiting this facility to a limited number of existing tax return 'customers' for the time being?
    Never heard about this before. There is nothing on the gov.uk website that self assessment for private individuals is in any way limited. https://www.gov.uk/log-in-file-self-assessment-tax-return
  • Nual
    Nual Posts: 179
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    I think I am going to take VR from March, and will have a DB pension of around 14k ( waiting for exact figures) I will also have around 1500 in interest on savings.

    I had assumed that my pension would be taxed at source above the 10800 pa, and that I would also pay tax on interest above 1k , but reading this and the other thread it seems that if the total is below 16800 I wont have any tax to pay. Is this correct?
  • colsten
    colsten Posts: 17,597
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    Check post #16.
  • Nual
    Nual Posts: 179
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    Thanks colsten
    So I will pay tax on pension but not on savings?
  • chris_m
    chris_m Posts: 8,250
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    So it appears.
  • Colsten...Saw a page page on MSE, that seems to allude to selective customers only being able to access the new Online Self Assesment, for the time being

    It won't let me post the link as i'm considered a Newbie

    colsten wrote: »
    you sure can. You can probably do it straight away if you have a GOV.UK VERIFY ID or can get one.
    Never heard about this before. There is nothing on the gov.uk website that self assessment for private individuals is in any way limited.
  • colsten
    colsten Posts: 17,597
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    What do you reckon is more correct and current when it comes to who can do self-assessments - information on gov.uk or on MSE? Did you look at the link I posted?
  • colsten wrote: »
    What do you reckon is more correct and current when it comes to who can do self-assessments - information on gov.uk or on MSE? Did you look at the link I posted?

    I saw the link you posted, which takes you to the 'start page' to be able to verify your I.D for the purpose of creating an account, if that's what you mean?
  • colsten
    colsten Posts: 17,597
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    I mean the link I posted in post #23. You must have overlooked it.
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