Interest details on HMRC Personal Tax Account. Updated to include how to access interest details.

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  • talexuser
    talexuser Posts: 3,499 Forumite
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    I have just been online to check my account, it has not yet been updated with the estimates for savings interest and dividends for this tax year from my letter of over a month ago. However it does say I have a refund of £125 overpaid from 17/18 and invites me to click links to claim it. Do I need to do this or will they not just automatically include it in this years calculation to reduce the amount owed?
  • Dazed_and_confused
    Dazed_and_confused Posts: 6,458 Forumite
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    If you don't claim it then I think HMRC will simply send you a cheque. Not sure how long before this happens but I would think it will be long before they review 2018:19.
  • telmanchicks
    telmanchicks Posts: 27 Forumite
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    Hi
    Would be grateful if you please let me know which are the good savings account for generating income. Ta
  • Rich2808
    Rich2808 Posts: 1,332 Forumite
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    dgp1000 wrote: »
    It's not just you Rich2808. I think Al Rayan have reported all their ISA accounts as taxable as both me, my wife and daughter have had the same happen to us. Luckily we've already shut all three accounts. They've also failed to report the account which should have been taxed. Makes you wonder how robust their systems are.

    This is of course quite concerning if their reporting systems aren't up to scratch. I just amended my interest to zero but no doubt the same issue will happen again next year?

    Are HMRC aware of this and taking appropriate action?
  • 2010
    2010 Posts: 5,360 Forumite
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    About ten times this afternoon I`ve tried to connect to webchat and each time I get "failed to connect to server".

    Has anyone managed to get to webchat?
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
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    Further to my post earlier in the thread I've just today, after spending around 4 hours on the phone to them over the last 7 days, managed to finally sort 2018/19 estimated interest! We actually broke their computer system on Thursday when 38 of my 52 accounts were 'lost'. I raised a complaint and they listened to the call and used that to enter the details again.

    Now moving on to correcting/lifting the amounts for 2017/18 next week. 28 accounts to work on and £1,300 extra interest to add.

    I've told them today that I will not be submitting any information for 2016/17. My Banks and Building Societies have taken the same stance...being as they've reported exactly nothing for that tax year!
  • where_are_we
    where_are_we Posts: 1,001 Forumite
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    It will be a lot of work to update my HMRC 18-19 savings account interest details. The actual 17-18 details which they are based on seem right. My income from pensions will total around £11850 for 18-19. My total savings interest for 18-19 be about £1400. This is well within the £1000 and £5000 tax free bands, so no tax to pay. I intend to let HMRC use the 17-18 actual total for the 18-19 estimate and not bother updating the actual details which will not be vastly different. Is there any downside to being lazy!
  • polymaff
    polymaff Posts: 3,904 Forumite
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    2010 wrote: »
    About ten times this afternoon I`ve tried to connect to webchat and each time I get "failed to connect to server".

    Has anyone managed to get to webchat?
    Yes, but only to receive priceless advice such as:

    " Banks don't inform us of interest anymore. They stopped that in 2015"

    ... before getting what you probably got:

    " Failed to connect to the server bad-request Live chat"

    again and again.
  • polymaff
    polymaff Posts: 3,904 Forumite
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    where_are_we wrote: »
    ... I intend to let HMRC use the 17-18 actual total for the 18-19 estimate and not bother updating the actual details which will not be vastly different. Is there any downside to being lazy!

    If only. HMRC have re-invented me - with a completely bogus but very substantial Private Pension (never had one).

    My plan is to keep an eye on them, but feed in nothing and let my Self Assessment Return be the reference document.
  • schiff
    schiff Posts: 20,099 Forumite
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    edited 16 February 2019 at 9:50PM
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    The weakness in the whole system is that each figure used in the current coding is an estimate or last year's correct figure or a figure that has been reported to them. The last item should be reliable, last year's figures could be miles out or the source of last year's interest doesn't exist any more.

    So what hope is there! From what is posted on here updating things with them can be a nightmare and very frustrating.

    Submitting the annual return after April, like we used to do in the old days!, with the actual figures that we possess, should put it all right.

    So my view is to accept the coding, unless of course it works heavily against you, and forget it till annual return time.

    And the beauty of that is that April 6th is not that far away!
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