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

Imelda

Oh and I tweeted HMRC (because that is how we are supposed to communicate now <eye roll>) and they told me to call them with my interest figures for 2019-2020.

schiff

Imelda said:

eskbanker said:

Imelda said:
It then lists the bank accounts and interest which total around £1400.

For clarity my income under PAYE was £17,000 and untaxed interest approx £4,000 in 2019-2020.

Out of curiosity, which banks have apparently reported the correct figures to HMRC and which haven't?

Hopefully I will have spent most of the money by the 2021/2022 tax year (house purchase)!!

That sounds much wiser than all those shoes 

wizzards

I looked everywhere on this HMRC website but I don't find anywhere detailed interest information from any of my accounts.  I see some estimate for 2020-2021 but not 2019-2020 where I am now starting my tax return.
I normally do a tax return to claim extra relief on a SIPP where I make extra payments in order to reduce tax liability.  But I was expecting to see a nice list of interest payments from any building or bank accounts I have somewhere but I don't see it anywhere.

RG2015

wizzards said:

I looked everywhere on this HMRC website but I don't find anywhere detailed interest information from any of my accounts.  I see some estimate for 2020-2021 but not 2019-2020 where I am now starting my tax return.
I normally do a tax return to claim extra relief on a SIPP where I make extra payments in order to reduce tax liability.  But I was expecting to see a nice list of interest payments from any building or bank accounts I have somewhere but I don't see it anywhere.

Sadly, it is not available anymore. Please see the link below from an earlier post courtesy of @Dazed_and_C0nfused .

https://community.hmrc.gov.uk/forums/customerforums/pt/cbe1bd87-c5c1-ea11-bf21-00155d977196

PS. Where did you see the estimate for 2020-2021?

Is it the bit that says:

"Your total income from savings this tax year is estimated at £xxx"

Dazed_and_C0nfused

wizzards said:

I looked everywhere on this HMRC website but I don't find anywhere detailed interest information from any of my accounts.  I see some estimate for 2020-2021 but not 2019-2020 where I am now starting my tax return.
I normally do a tax return to claim extra relief on a SIPP where I make extra payments in order to reduce tax liability.  But I was expecting to see a nice list of interest payments from any building or bank accounts I have somewhere but I don't see it anywhere.

Even if there were such a list available it wouldn't preclude the need for you to ensure that the interest details on your return were correct.

If the estimate you refer to is in connection with your 2020:21 tax code then it is possible that it is based on figures from your 2018:19 Self Assessment return.

And it may be updated using figures from your 2019:20 return once you file it.

Sea_Shell

A quick question if I may...

I am now a non-working person, but whilst I was working (part-time) I, in the 17-18 tax year, earned £1270 in interest.   In the 18-19 Tax year I earned £911.  

HMRC reduced my tax code by these amounts to 1058L and 1158L respectively.

In the 19-20 tax year I earned £813 interest.   My earnings though work were only £3600 (April 19 to July 19).

(20-21 interest will be much reduced!!!)

My tax code is still showing as 1158L, based on the £911 above.

At some point before the beginning of the next tax year, I want to give my husband my 10% so that his PA can increase to £13750 (as he starts drawdown)

So my question is, do I get to transfer £1250 of PA to my husband or is it only 10% of my current PA that gets transferred.     Do I need to first get HMRC to amend my tax code back to 1250L ?

If so, what's the easiest way of doing that?

Thanks

wizzards

RG2015 said:

wizzards said:

I looked everywhere on this HMRC website but I don't find anywhere detailed interest information from any of my accounts.  I see some estimate for 2020-2021 but not 2019-2020 where I am now starting my tax return.
I normally do a tax return to claim extra relief on a SIPP where I make extra payments in order to reduce tax liability.  But I was expecting to see a nice list of interest payments from any building or bank accounts I have somewhere but I don't see it anywhere.

Sadly, it is not available anymore. Please see the link below from an earlier post courtesy of @Dazed_and_C0nfused .

https://community.hmrc.gov.uk/forums/customerforums/pt/cbe1bd87-c5c1-ea11-bf21-00155d977196

PS. Where did you see the estimate for 2020-2021?

Is it the bit that says:

"Your total income from savings this tax year is estimated at £xxx"

Thanks.  Yes the estimate I got from the bit that says 
"Your total income from savings this tax year is estimated at £xxx"
I thought the HMRC were getting the info direct from the bank and so on and would put as nice list of all your accounts.   I can do it myself but if they have the info then its easier for me to check.  I am planning to close any accounts that have only a pound or two in.  As I was very ill some years back my finance records got in a bit of a mess.  I am still recovering from that a bit 3 years later.  If you have complicated financial products and a diverse portfolio then if you become ill especially if your mental capability becomes in any way affected the challenges of sorting it takes a bit of time.  HMRC doesn't stop sending letters in the brown envelopes.  I am now back on top of it.  Or at least most items.

RG2015

@Sea_Shell, I believe the 10% is applied to the personal allowance figure of £12,500, not the tax code.

You may get more informed answers if you post on the Cutting Tax Board.

polymaff

Sea_Shell said:

... do I get to transfer £1250 of PA to my husband or is it only 10% of my current PA that gets transferred. Thanks

What your husband will end up with is a rebate of up to £250 (basic-rate on 10% of the £12,500 PA) of the tax he owes for the financial year concerned, not an adjustment to his PA.

Dazed_and_C0nfused

polymaff said:

Sea_Shell said:

... do I get to transfer £1250 of PA to my husband or is it only 10% of my current PA that gets transferred. Thanks

What your husband will receive is a reduction of up to £1,250 of the tax he owes for the financial year concerned, not an adjustment to his PA.

He wishes

It's £250!!