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

Descrabled

Dazed_and_C0nfused said:

Descrabled said:

Dazed_and_C0nfused said:

Descrabled said:

Thanks RG2015.

Works for me; information incorrect, however.  Does not agree with tax actually paid.

Do you mean interest actually paid??

I compared the amount of tax collected during the year 2019-20 with that quoted for that year.

The amount óf tax actually paíd was less than that shown in the summary. The amount of tax actually paid by PAYE agrees with the details in the personal tax account.

So my summary for both tax years shows more tax collected than was actually paid. The error is not large, tens rather than hundreds of pounds.

I don't know why.

Do you mean an "Annual Tax Summary", which is a specific thing designed to show how the government spends the tax you have paid?

Rather than something showing your personal tax position for the year?

My "Annual Tax Summary" has always been wrong from when it was first introduced, so no. I never take any notice of that and when it arrives in the post it goes straight in the shredder unread.

Dazed_and_C0nfused

Descrabled said:

Dazed_and_C0nfused said:

Descrabled said:

Dazed_and_C0nfused said:

Descrabled said:

Thanks RG2015.

Works for me; information incorrect, however.  Does not agree with tax actually paid.

Do you mean interest actually paid??

I compared the amount of tax collected during the year 2019-20 with that quoted for that year.

The amount óf tax actually paíd was less than that shown in the summary. The amount of tax actually paid by PAYE agrees with the details in the personal tax account.

So my summary for both tax years shows more tax collected than was actually paid. The error is not large, tens rather than hundreds of pounds.

I don't know why.

Do you mean an "Annual Tax Summary", which is a specific thing designed to show how the government spends the tax you have paid?

Rather than something showing your personal tax position for the year?

My "Annual Tax Summary" has always been wrong from when it was first introduced, so no. I never take any notice of that and when it arrives in the post it goes straight in the shredder unread.

You can save the postman a job if you want 🙂

https://www.gov.uk/government/publications/request-to-opt-out-of-receiving-your-paye-annual-tax-summary

badger09

badger09 said:

I despair.

In January 2020 I finally had a satisfactory conclusion to my formal complaint regarding HMRC's repeated errors calculating my liability for earlier years. I received the correct repayment and all (incorrect) adjustments were removed from my code as interest going forwards is less than £1k pa. 

Last week I received an amended coding notice including adjustment of £1946! The only explanation I can imagine is that all the closed accounts, dealt with during my complaint, have been reactivated with estimated figures.

In the middle of selling and moving house, I really could do without this.

Very brief update.
No response to my letter 27/10 with full schedule of all accounts & interest received 2019/20, so sent reminder with copies, 6/12.

18/12 I received correct coding dated 9/12. Still no letter, but as long as I get my overpaid tax back with next pension payment I'll leave it there.

Really no time or capacity for formal complaint with imminent house move.

polymaff

Look on the bright side. Your HMRC battles push "house moving" futher down your "most stressful" list. ...

badger09

polymaff said:

Look on the bright side. Your HMRC battles push "house moving" futher down your "most stressful" list. ...

If only that were true. 

"What to do with in excess of £500k (no idea for how long)" has, however, slipped way down that list  

RG2015

I received my notice of coding for 21/22 including untaxed income from savings and investments of £82. My online tax account shows my interest received for each of 18/19, 19/20 and 20/21 as being well below £1,000. So there is no reason for 21/22 estimate to be £1,082.

I phoned HMRC and the customer services agent said that it was based on my figures for 19/20. This included actual figures received from the banks and estimates I had given them in 2019. The agent surmised that there may have been some double counting. I agreed.

She deleted all of the estimates and gave me the actuals which agreed exactly with my figures bar two banks, Marcus and Ford Money. They had not received anything from Ford and Marcus had given them 90p when it should have been £90.90. She would not entertain my suggestion that HMRC may have made a mistake insisting that 90p was what Marcus had given them.

Upshot is that my tax account online has been updated to remove any erroneous extra tax liability estimate for 21/22. 

One final curiosity is that my Virgin Money savings (mostly regular savers) are being recorded in HMRC as Clydesdale Bank. This was well before the merger and I do not recall Virgin figures ever appearing on HMRC. I guess that the merger has sharpened up Virgin Money’s processes.

polymaff

December 2020: Completed SA100 - six boxes to populate; 5 minutes

15 January 2021: Received SA300 - i.e. hard copy confirmation..

15 January 2021:  Requested bank payment to HMRC for 27th; 2 minutes

27 January 2021: Checked that payments had been made, cleared resulting overdraft; less than a minute.

1 February 2021: Checked HMRC had received payment; 2 minutes

All online, all without a PTA.  Dull as ditchwater - which is fine by me.

RG2015

polymaff said:

December 2020: Completed SA100 - six boxes to populate; 5 minutes

15 January 2021: Received SA300 - i.e. hard copy confirmation..

15 January 2021:  Requested bank payment to HMRC for 27th; 2 minutes

27 January 2021: Checked that payments had been made, cleared resulting overdraft; less than a minute.

1 February 2021: Checked HMRC had received payment; 2 minutes

All online, all without a PTA.  Dull as ditchwater - which is fine by me.

And if it wasn't for us non SA folk you wouldn't know how exciting battling over PTAs records could be.

polymaff

Unless you, too, are dealing with a brain tumour, you can't realise how little I miss that thrill of the chase.

2010

Looking at my PTA online, my tax code has been lowered for the next tax year Apr 21/22.
Further down the page it says the following;

If the information you have seen is wrong or incomplete

You can tell us about changes that will apply from 6 April 2021 for any of the following:

company benefits

allowances or tax reliefs

income from another source
I`m assuming that I could click on the link for "income from another source" and enter what I expect savings interest to be for the coming tax year in April.
It`s obvious from the estimated unpaid tax they have accessed, that they are using numbers from yesteryear.
Has anyone done this online and do they require a total estimated figure or a breakdown of each account?