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

andy_poulton

I have now had an answer back to all my questions and queries re missing docs, frozen account, unable to upload, no replies to messages, unable to send messages, PTA says investigation progressed and completed 6 weeks ago and no updates. 
Reply below:-

Thank you for contacting the Digital Customer Support Team.
We have been experiencing problems with the information supplied for untaxed interest which has caused a number of issues for our customers, including errors when trying to update interest details on the digital service. 
 To alleviate these problems we have removed this information whilst we investigate the issue.  At present we are unable to provide timescales for our investigations but we will endeavour to resolve as quickly as possible.
If you wish to make changes to your untaxed interest in the meantime please contact the helpline.

[By telephone]

They will be able to view your details and can make any adjustments that may be required.

RG2015

Interesting, "...having problems with the information supplied for untaxed interest...."

Nothing at all to do with their IT systems.

easterbunni

Is the general consensus that the PTA has gone Pete Tong?

I have a main job and a Saturday job, and have done since before this tax year, and last year it's all recorded correctly.

My main job has medical insurance as a benefit, however my main job/employer is not even mentioned for this tax year, only my Saturday job.

My Saturday job also has the tax code 1238L which is reduced due to £47 medical insurance benefit and £70 untaxed interest (I wish!)? I've clicked the link to remove the medical insurance from my Saturday job. I'm paying all the correct NI and tax from my main job out of my pay packet.

Should I just wait until they sort themselves out?

RG2015

On my personal tax account online, my interest estimate for 2020/2021 has been updated. All I can see is the total which has increased by £16.

I assume that banks, building societies and NS&I have reported my 2019/2020 to HMRC. The actual figure should be £133 less based on my actual figures for 2019/2020. Clearly they have counted some of my interest twice.

Unfortunately, there is no way of checking how HMRC have arrived at their figure. At the moment, I am still just below £1,000 so my tax payable is not affected. However, all it would take is another bank to report to HMRC and I could be pushed above £1,000.

Has anyone found a way of viewing the details online?

schiff

I think the estimate in my coding of the excess over £1000 is likely to be excessive, but I'm not bothering about it. It's only a guesstimate on their part anyway. I'll submit my return with my accurate figure in April as I did this last April and claim any overpayment rebate. The interest is my only income not directly by PAYE. I've never compared my list with theirs as previous attempts have thrown up so many discrepancies and with the lack of the facility to get an agreement from them, it hardly seems worth it. I'm happy to pay the tax on my figures. 

polymaff

RG2015 said:

On my personal tax account online, my interest estimate for 2020/2021 has been updated. All I can see is the total which has increased by £16.

I assume that banks, building societies and NS&I have reported my 2019/2020 to HMRC. The actual figure should be £133 less based on my actual figures for 2019/2020. Clearly they have counted some of my interest twice.

Has anyone found a way of viewing the details online?

No, but can you see what combination of your own 2019/20 Other Income figures might total to the discrepancy?

Here, for the first time, I can see all totals. Admittedly, the Other Income is from 2018/19, the Occupational Pensions are from 2019/20 and the State Pension is for 2020/21.  What is more, each figure is within a pound or two of the expected.

No breakdowns of the totals, but I call that progress. ...

RG2015

polymaff said:

RG2015 said:

On my personal tax account online, my interest estimate for 2020/2021 has been updated. All I can see is the total which has increased by £16.

I assume that banks, building societies and NS&I have reported my 2019/2020 to HMRC. The actual figure should be £133 less based on my actual figures for 2019/2020. Clearly they have counted some of my interest twice.

Has anyone found a way of viewing the details online?

No, but can you see what combination of your own 2019/20 Other Income figures might total to the discrepancy?

I tried that and if I double up on my TSB current account and First Direct regular saver I come to their figure. I don't think it will be as simple as that though.

The reason I mention doubling up is that they previously put in exactly the same figure in for HSBC and First Direct even though I did not have an HSBC account.

molerat

Just had a shock as my tax code had reduced.  Checked and they were showing underpaid tax for this year and untaxed interest of £350.  Contacted them and both figures are linked, the underpaid tax is due to the untaxed interest.  Their estimate was for £1350 interest this year so went through the accounts with them on the phone and they have included all the now closed monthly savers etc as active bringing the totals up above £1K.  Could not add any new accounts but gave them the estimated interest on the ones they had, £0 on all the closed ones, which brought the untaxed interest down to £0 and reverted the tax code to what it was.  Good experience as to how the operator handled it but not happy with the way the computer worked it out in the first place.  Luckily the first change was the 14th, the day after my payday, and this correction today will reach them long before the next one.

Dazed_and_C0nfused

molerat said:

Just had a shock as my tax code had reduced.  Checked and they were showing underpaid tax for this year and untaxed interest of £350.  Contacted them and both figures are linked, the underpaid tax is due to the untaxed interest.  Their estimate was for £1350 interest this year so went through the accounts with them on the phone and they have included all the now closed monthly savers etc as active bringing the totals up above £1K.  Could not add any new accounts but gave them the estimated interest on the ones they had, £0 on all the closed ones, which brought the untaxed interest down to £0 and reverted the tax code to what it was.  Good experience as to how the operator handled it but not happy with the way the computer worked it out in the first place.  Luckily the first change was the 14th, the day after my payday, and this correction today will reach them long before the next one.

If you look at the information banks have to provide to HMRC it looks like they don't provide the dates any accounts close so presumably HMRC will always initially estimate untaxed interest income as exactly the same as the latest year the banks have reported.

https://www.gov.uk/government/publications/type-17-and-18-bank-building-society-interest-and-other-interest-returns-of-interest-and-eusd/bank-and-building-society-bbsi-european-union-savings-directive-eusd-and-other-oi-returns-of-interest

molerat

Something that is not fit for purpose then.  Luckily I am fairly anal about record keeping and knowing what tax I should be paying so could rebut their assertions and get it corrected immediately.