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

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?

RG2015

@2010, I haven’t tried recently, but I seem to recall that it only allowed me to add income from another source not to amend income from an existing source.

ScarletBea

You can't use that option to correct the interest from savings, for that you need to contact them with the details.

Like RG2015 they had mine wrong for 2020/21 back in Nov, and I was on the webchat going through every single account in the list: they had a couple of duplications which were identified, until it finally matched my records.
This happens every single year, I pity the poor people who aren't comfortable keeping records of interest received and just take HMRC numbers at face value...

I also received the 21/22 estimate yesterday and it's actually quite aligned with my expectations. I don't know if it's just coincidence (since it's very different from the previous year), but I'll worry about it as the actuals come in.

2010

I only looked online but I expect the paper one will be here anytime now.
Hopefully it will give me a better breakdown of what I`m supposed to owe.
Looking at the online figure at what is underpaid for this tax year, I`ve no idea how they`ve arrived at it.
Last August they lowered my code, said I owed x amount, after three months they put the code back to where it was and then gave me the tax back!

youngretired

After having read that people are now getting their 2021/2022 tax codes, I thought I'd check my husbands and dads.

Like everyone else HMRC have mucked their tax codes up by estimating that the tax will be the incorrect amount that I thought I had resolved back in October 2020 by getting duplicates all removed.

Somehow all the corrections that were done in October have all been reversed so are all appearing wrong again. My dads they are hoping to just correct and then send a revised BBSI, as I told them today of closed accounts from 2019/2020. My husbands was due to accounts that hadn't been removed from 2018/2019 that we had told them about 3 times previously and did a complaint in October. As the last contact was a complaint, they have said that the complaint team will have to resolve. So we have asked for a revised BBSI after being corrected again with 2019/2020 closed accounts removed.

Hopefully this will not be a yearly event of having to correct accounts in October then again February.

talexuser

This is exactly what happened to me, large inaccuracies in savings interest when the many accounts of some years ago were closed down as rates reduced, two long phone conversations with HMRC, many months apart, correcting the closed accounts and real totals, only for the computer to reinstate all the wrong information back again a few weeks later both times. I'm on self assessment now

Vortigern

I received a code change email from HMRC 2 days ago, but on logging on to my PTA, I find that my code has not changed since October. It was wrong then and it's still wrong now. The error is in interest received, but there's no way to correct this online.

HMRC had already advised me of this code change back in October, so I can't see why they've advised me again. I scrutinised the email closely to ensure it was genuine. What are they playing at?

2010

It seems everyone`s savings interest is wrong chiefly because they don`t yet know what it will be for the current tax year until around August time when they should start receiving it from the banks etc.
They up your code number on out of date savings interest details which you can`t even see a breakdown of in your PTA let alone alter online.
Contacting them by phone or webchat to give them what you expect your interest to be in the coming tax year may do the trick for now but as reported they revert back to out of date info later.
If they can`t fix their website so you can provide your estimate,they should assume that no tax is due for the coming year and then adjust it in Aug/Sept when they get the info from the banks etc.

youngretired

My husband received this email also 2 days ago. We think it is for the new 2021/2022 tax code but we already knew about this as logged in after reading the forum on the 5th.

ScarletBea

youngretired said:

Like everyone else HMRC have mucked their tax codes up by estimating that the tax will be the incorrect amount that I thought I had resolved back in October 2020 by getting duplicates all removed.

Somehow all the corrections that were done in October have all been reversed so are all appearing wrong again. 

Yes, this happened to me today!
I got a mail saying that my tax code for 21/22 had changed, and when I checked, it was due to the amount owed from 2019/20: when I checked that value (which had been fixed back in November), they had the savings interest wrong again, but I couldn't identify the value. Got on the webchat with a very helpful assistant who went through the list with me again, and I discovered the error was due to a new value from NS&I (which wasn't in the list in November and I hadn't picked up in my calculations because it was capitalised and I was only counting money actually received) and the duplication of a Nationwide account (previously solved). It seems when they get new information, they refresh the numbers and all previous errors get reinstated...
At least now everything is solved again, I've got the right "owed amount" from 2019/20 in the 2021/22 tax code.
The interest in next year's code isn't perfect but it's close enough - since I'm going to have to fix it when I get the right numbers anyway, I decided to let it stay like that, hehe