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2016 no tax on first £1000 interest earned

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  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Just in case people don't know: you don't have to wait for your tax code to arrive by post. You can check it any time you like on your Personal Tax Account.
  • My earlier post was meant to be in another topic so apologies for that, I had been reading about wrong tax codes.
    I am now going to register for my PTA, and make sure it has been altered, just in case I dreamt up the whole conversation earlier:eek:
  • Connie
    Connie Posts: 97 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    edited 6 April 2016 at 11:58PM
    Archi Bald says, "Just in case people don't know: you don't have to wait for your tax code to arrive by post. You can check it any time you like on your Personal Tax Account."

    But how do you do this unless you are prepared to self-assess?
    I'm on the PAYE system, and don't send a tax return.

    To sign into your PTA you need first to register with HMRC online services.
    So I go to the HMRC online services sign-in page, and as a new user I click "register".
    That gives me the following options:
    Sign up to file returns online;
    Register for Machine Games Duty;
    Tell HMRC I'm a new business, new employer, or new to VAT;
    Register for VAT Mini One-stop Shop;
    Register for Automatic Exchange of Information;
    or
    Qualifying Recognised Overseas Pension Scheme.

    None of those are applicable. All I want to do is view my tax code.

    How do I do that?
  • Connie wrote: »
    Archi Bald says, "Just in case people don't know: you don't have to wait for your tax code to arrive by post. You can check it any time you like on your Personal Tax Account."

    But how do you do this unless you are prepared to self-assess?
    I'm on the PAYE system, and don't send a tax return.

    To sign into your PTA you need first to register with HMRC online services.
    So I go to the HMRC online services sign-in page, and as a new user I click "register".
    That gives me the following options:
    Sign up to file returns online;
    Register for Machine Games Duty;
    Tell HMRC I'm a new business, new employer, or new to VAT;
    Register for VAT Mini One-stop Shop;
    Register for Automatic Exchange of Information;
    or
    Qualifying Recognised Overseas Pension Scheme.

    None of those are applicable. All I want to do is view my tax code.

    How do I do that?

    I signed up using this link

    https://www.signin.service.gov.uk/start
  • Westie983
    Westie983 Posts: 5,215 Forumite
    Tenth Anniversary 1,000 Posts I've been Money Tipped! Name Dropper
    Connie wrote: »
    Archi Bald says, "Just in case people don't know: you don't have to wait for your tax code to arrive by post. You can check it any time you like on your Personal Tax Account."

    But how do you do this unless you are prepared to self-assess?
    I'm on the PAYE system, and don't send a tax return.

    To sign into your PTA you need first to register with HMRC online services.
    So I go to the HMRC online services sign-in page, and as a new user I click "register".
    That gives me the following options:
    Sign up to file returns online;
    Register for Machine Games Duty;
    Tell HMRC I'm a new business, new employer, or new to VAT;
    Register for VAT Mini One-stop Shop;
    Register for Automatic Exchange of Information;
    or
    Qualifying Recognised Overseas Pension Scheme.

    None of those are applicable. All I want to do is view my tax code.

    How do I do that?

    I used this link https://www.gov.uk/personal-tax-account

    It then asked me for my details and NI number, then asked how I wanted to validate my identity, Passport, Tax Credits, chose the 2nd one and asked me for 4 digits from my bank account and the amount I get paid.

    Then I was able to view all my records including my NI contributions, Tax Code and pension projection.
    I’m a Forum Ambassador and I support the Forum Team on the Banking & Borrowing, and Reduce Debt & Boost Income boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySaving Expert.
    Save 12k in 2023 #58 Total (£4500.00) £2500.00/£5000 = 50.00%
    Sealed Pot Challenge ~17 #24 Total (£55.00) £0.00/£500 = 0.00%
    Xmas 2023 £1 a Day #13 Total (£85.00) £344.00/£365 = 94.24%
    Virtual Sealed Pot #1 Total (£500) £550.00/£500 = 110.00%
    £2 Savers Club 2023 #17 Total (£25.00) £45/£300 = 15.00%
    The 365 1p Challenge 2023 #7 Total £656.19/£667.95 = 98.23%
    Total £4095.19/£7332.95 = 55.84%
  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Connie wrote: »
    I'm on the PAYE system, and don't send a tax return.

    I've had to do a tax return every single year since my final year at university, and I was also required to VAT register while still a student!. My wife also has to do one every year even during her 20 year career break.

    As for tax codes, I've had four in the last three weeks, and the "final" one isn't totally right, but it's an L rather than a T, so I'm going with it.
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
  • ScarletBea
    ScarletBea Posts: 2,921 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Westie983 wrote: »
    I used this link https://www.gov.uk/personal-tax-account

    It then asked me for my details and NI number, then asked how I wanted to validate my identity, Passport, Tax Credits, chose the 2nd one and asked me for 4 digits from my bank account and the amount I get paid.

    Then I was able to view all my records including my NI contributions, Tax Code and pension projection.

    Yes, it's this link, not the 'HMRC online services'.
    Being brave is going after your dreams head on
  • SallySunshine
    SallySunshine Posts: 813 Forumite
    Part of the Furniture 500 Posts
    edited 7 April 2016 at 1:44PM
    I have registered for a PTA, I used to use the original S/A form to claim interest back on savings but when pensions kicked in I was informed I needn't complete one again.

    My husband also completed the S/A form, this is the last time he will need to do this as the savings interest allowance is in force.
    He also started receiving private and state pensions at the end of last year, including a tax free lump sum.

    The question I wanted to ask is, does the new PTA self assessment have the same question boxes to fill in the above info or should he continue with the old form for the last time?

    Even the old form which I tried to look at yesterday has the 2 part security where they send you an sms each time you try to access it.
  • Connie
    Connie Posts: 97 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Many thanks to those who said I should be using this link to access my PTA:
    https://www.gov.uk/personal-tax-account.
  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    I just checked my PTA and they *do* have my correct tax code on there, just not on the paper sent to myself or employer. I wouldn't mind, but I sent them a message telling them *exactly* what my tax code should be and why!
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
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