Interest details on HMRC Personal Tax Account online

RG2015

There appears to be a lot of interest in a thread I posted on the savings and investments board regarding interest details on the personal tax account. I have included a link below.

https://forums.moneysavingexpert.com/showthread.php?p=75286266#post75286266

Since this is also relevant to the tax board I have posted some details here.

The following shows how to access interest received details within the HMRC personal tax account online.

The personal tax account can be accessed via the Government Gateway or the Gov.uk Verify portals as per the link below.

https://www.gov.uk/personal-tax-account

Once in, click on the PAYE block and then click on check current tax year. You should then see a heading for your income from other sources with a sub section for untaxed interest income with a single figure. Below this is a link to view details. Click here and you will see a page with information on interest earned from your accounts.

Finally, at the foot of this page there is a link to check your account details and estimated interest.

Here is where I can see every savings account with individual amounts earned in the previous tax year, in this case 2017/2018.

RG2015

Further to my post above, if your individual savings account details are shown then they will be last year's figures being used as an estimate for the current tax year.

These are likely to be quite different to the actual figures for the current tax year. The advice on the page is to update the figures but many on the other thread have done this and the page has crashed.

Bear in mind that the personal tax account online is a beta site and still exhibits some unresolved problems.

I have not attempted to update my figures and judging from the experiences of others I am pleased that I took this decision.

speedyrite

I have managed to update the amount for one (of two) accounts shown, but all attempts to remove the other account (as it closed during 17/18) have failed (triggering some sort of "it's too hard I can't do it" sort of error message as others have found. The wonders of "bleeding edge tech" eh?! Or maybe that should just be "bleeding tech"...

uknick

RG2015 wrote: »

Once in, click on the PAYE block and then click on check current tax year. You should then see a heading for your income from other sources with a sub section for untaxed interest income with a single figure. Below this is a link to view details. Click here and you will see a page with information on interest earned from your accounts.

Not on my account. All I have below the "Other Income" section is a link to update/remove the amount which only allows me to enter a total figure.

RG2015

uknick wrote: »

Not on my account. All I have below the "Other Income" section is a link to update/remove the amount which only allows me to enter a total figure.

If memory serves me well, this is what I used to see before HMRC added all of my individual savings account details. It may be that HMRC have not got round to updating your interest figures as yet.

After I had written to HMRC with my actual figure for 2017/2018 they inserted this single figure which remained as just this for several months before they input the individual figures they received from the banks.

Do you recognise the total interest figure or is it anywhere near to your actual interest received for the 2017/2018 tax year?

PS: I have outlined my HMRC experiences on my other thread on the link below.

https://forums.moneysavingexpert.com/showthread.php?p=75286266#post75286266

uknick

RG2015 wrote: »

If memory serves me well, this is what I used to see before HMRC added all of my individual savings account details. It may be that HMRC have not got round to updating your interest figures as yet.

After I had written to HMRC with my actual figure for 2017/2018 they inserted this single figure which remained as just this for several months before they input the individual figures they received from the banks.

Do you recognise the total interest figure or is it anywhere near to your actual interest received for the 2017/2018 tax year?

PS: I have outlined my HMRC experiences on my other thread on the link below.

https://forums.moneysavingexpert.com/showthread.php?p=75286266#post75286266

The figure shown is roughly what the interest from last year. To be honest, it's not really an issue as I have to a SA anyway, so the figure shown is not really used for anything.

RG2015

uknick wrote: »

The figure shown is roughly what the interest from last year. To be honest, it's not really an issue as I have to a SA anyway, so the figure shown is not really used for anything.

I see. It sounds as though they are simply using the actual figure you gave them on your SA for last year.

It is still possible that in due course they will insert the individual amounts that the banks report to them

RG2015

For information, as of this moment, all of my interest income details referred to at the start of this thread have disappeared from my personal tax account online.

matty_544

mine too, i checked mine last week, went to look for then again tonight and cant be seen anywhere

caveman38

Me too. Perhaps there is a cut off as to when you can make amendments. If that is the case, the interest sources may reappear when the new tax year starts.

kf2017

Does it all reset in the new tax year?

I would appreciate if someone could clarify. I have been paying basic rate 20% for most of the tax year, in March due to some bonuses my earnings go over to the 40% tax band. I assume that I will pay 40% on March's salary (i.e. money earned over the threshold), when the new tax year starts in April, will I go back to 20% basic?