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

polymaff

Sorry, but if anyone should know how useless HMRC are at fielding working systems, it is you Badger09. SA has been working tolerably well since last October. PTA and BTA are still fubar.

2010

Looking at my tax account online, the list of accounts showing go back to yesteryear and bear no resemblance to what I currently have.
As others have stated on here,you can`t remove or amend because you get the "sorry" message,which has been like that for well over a year that I know of.
Why don`t they fix it and get it up and running?

AFAIK, the banks and building socs inform HMRC in July about the amount of interest you`ve received after the tax year ends in April.
They then assess what you owe and anytime now you should receive a letter (P800) telling you this.

This has just happened to me and despite my account still showing,even for this current tax year, savings accounts that are long gone, their assessment was correct.
I know this because each tax year I keep a record of all the interest I`ve received.

Obviously, all the old accounts that are still showing, and you can`t remove, don`t make any difference.
All that seems to matter are the figures HMRC receive in the July following the end of the tax year in April.

So I would say, don`t panic if you see a load of obsolete accounts when you log in to your PTA.
And above all, keep records of all the interest you receive each tax year.

talexuser

2010 wrote: »

So I would say, don`t panic if you see a load of obsolete accounts when you log in to your PTA.
And above all, keep records of all the interest you receive each tax year.

I think that is very good advice. I phoned and went through about 15 old accounts to be deleted, the page looked a lot better afterwards. A couple of weeks later the computer had put the long list of closed accounts with old interests back again. Nevertheless the tax at the end of the year was correct with my interest calculations, so that page was effectively useless. Now the tax is less than a £100 or so to my calculation, so I'll just let it settle next tax year which ever way. They have now put me on self assessment so it won't bother me anymore!

polymaff

talexuser wrote: »

I think that is very good advice. I phoned and went through about 15 old accounts to be deleted, the page looked a lot better afterwards. A couple of weeks later the computer had put the long list of closed accounts with old interests back again. Nevertheless the tax at the end of the year was correct with my interest calculations, so that page was effectively useless. Now the tax is less than a £100 or so to my calculation, so I'll just let it settle next tax year which ever way. They have now put me on self assessment so it won't bother me anymore!

As Mr. Punch would say - "That's the way to do it!"

badger09

polymaff wrote: »

Sorry, but if anyone should know how useless HMRC are at fielding working systems, it is you Badger09. SA has been working tolerably well since last October. PTA and BTA are still fubar.

So, SA online has been working tolerably well since October 2018:T

IIRC:o, online filing was introduced in 1997.

A mere 11 years to achieve 'tolerable' performance:(


PTA was introduced in 2015

David Gauke's statement extracted from:
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/413975/making-tax-easier.pdf

'By 2020
more than 50 million individuals and small businesses will have a
secure, personalised digital tax account — removing the need for
millions to complete a tax return and simplifying the tax system
for millions more.'

badger09's prediction:

2025 at least until it works as intended.
But it will probably be scrapped before then:cool:

polymaff

badger09 wrote: »

So, SA online has been working tolerably well since October 2018:T

IIRC:o, online filing was introduced in 1997.

A mere 11 years to achieve 'tolerable' performance:(


PTA was introduced in 2015

David Gauke's statement extracted from:
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/413975/making-tax-easier.pdf

'By 2020
more than 50 million individuals and small businesses will have a
secure, personalised digital tax account — removing the need for
millions to complete a tax return and simplifying the tax system
for millions more.'

badger09's prediction:

2025 at least until it works as intended.
But it will probably be scrapped before then:cool:

I'm flattered that you are echoing exactly what I've said previously in this thread:


Stop trying to use a poor prototype of a system way off being any good at all. Stop trying to reverse-engineer a users' manual that just doesn't exist. Use SA.


And the tolerably useful version of SA 2017-18 was version 20-something? but, all credit, HMRC having just thrown up their hands in July 18, did, somehow, find a way through to a working system. Something gained - maybe something learned <joke>


The posters in this thread are clearly masochists. Just surprised to see an ex-HMRC staffer being bush-whacked / indignant about HMRC's state of competence...:)

AJ2019

All the information provided was very helpful - thanks.
I tried going through the Personal Tax Account screens as mentioned but got nowhere as there was not even a total figure for untaxed interest for the current year (2019/20) let alone a breakdown.
I then clicked on the link provided in your post - brilliant! Much was wrong, mainly due to closed accounts, but, as others have written, I kept getting ‘error, please try again later’ when trying to update. I did manage to update a few.
What I really wanted to see was the information provided by the banks and building societies for 2018/19 as HMRC now claim to have the accurate interest figures but the total they give does not match mine. Any ideas? Thanks

davidwatts

AJ2019 wrote: »

What I really wanted to see was the information provided by the banks and building societies for 2018/19 as HMRC now claim to have the accurate interest figures but the total they give does not match mine. Any ideas? Thanks

Based on my experience, I'd say just tell them what it should be and they will act on it accordingly without any fuss. This has worked for me on the 3 or 4 occasions they've adjusted my tax code incorrectly on the basis of interest payment details provided by banks. I've just told them the correct figure broken down by provider (e.g. not per account if more than one with the same bank).

RG2015

AJ2019 wrote: »

All the information provided was very helpful - thanks.
I tried going through the Personal Tax Account screens as mentioned but got nowhere as there was not even a total figure for untaxed interest for the current year (2019/20) let alone a breakdown.
I then clicked on the link provided in your post - brilliant! Much was wrong, mainly due to closed accounts, but, as others have written, I kept getting ‘error, please try again later’ when trying to update. I did manage to update a few.
What I really wanted to see was the information provided by the banks and building societies for 2018/19 as HMRC now claim to have the accurate interest figures but the total they give does not match mine. Any ideas? Thanks

The information on the link should be what the banks gave to HMRC for the 2018/2019 actual.

They then use this as the estimate for 2019/2020. I do not believe that there is anywhere on the personal tax account where they show actual interest for previous years under the correct heading.

AJ2019

Thanks. Yes, most of the information for actual interest is there, in amongst old closed accounts, but even then, when I tot them up and add details from one missing bank, although that comes to my figure, it is still more than the figure they have quoted to me as my actual. I am going to have to bite the bullet and contact them (as advised).