HMRC and savings interest

soulsaver

colb15 wrote: »

Same situation for me, there was an estimate recently but now it's just employment information.

You can't find it because there seems to be a link missing from the HMRC detail page.. but I logged in and then clicked on the OP's link and got there.

And as said, info not complete but not surprising the Tax year only ended one working day ago.

capital0ne

polymaff wrote: »

Still a complete load of rubbish in my PTA

Could make a joke about PiTA - but instead spent 12 minutes entering the data into SA 2018-19.

Got a complete assessment of the correct data - plus a full breakdown of the tax liability and the total due - which I disagree with ...

... but by only a penny. :T

I checked my PTA ages ago, one mystery line, which I corrected, and a few weeks later a new tax coding popped through my letter box which took this into account.
Really good or so i thought.
A few weeks ago I got two new tax codings, one for 2018/19 and another for 2019/20 - both had some odd figures for interest incorrect.
This time I used the online chat page and it's now all resolved, prepare your figures, keep it simple, don't digress to other ares and it was all resolved in minutes - till next year I guess.

eskbanker

polymaff wrote: »

a penny

Explanatory note for capital0ne's benefit: this is a subdivision of a pound, as used by ordinary plebs who know of money in metallic form rather than just high-denomination notes used to light oversized cigars with....

https://forums.moneysavingexpert.com/discussion/5827619/just-used-my-full-isa-allowance

Masomnia

Interesting. Mine used to show interest but it isn't there now.

I went over £1k interest in 18/19 though not by a huge amount. I've bought a property witht he cash now so won't get anything like that this year. I'd really rather not be faffing with estimated interest income and all that and would much rather just send them the money for what I owe for last year; does anyone know if that will possible? I can't find clear answers.

littlemoney

polymaff wrote: »

Still a complete load of rubbish in my PTA

Could make a joke about PiTA - but instead spent 12 minutes entering the data into SA 2018-19.

Got a complete assessment of the correct data - plus a full breakdown of the tax liability and the total due - which I disagree with ...

... but by only a penny. :T

I know this is probably a foolish question but what is SA 2018-19 and where did you enter the data please?

cloud_dog

eskbanker wrote: »

Explanatory note for capital0ne's benefit: this is a subdivision of a pound, as used by ordinary plebs who know of money in metallic form rather than just high-denomination notes used to light oversized cigars with....

https://forums.moneysavingexpert.com/discussion/5827619/just-used-my-full-isa-allowance

ROTFLPML:rotfl:

(very dry)

RG2015

littlemoney wrote: »

I know this is probably a foolish question but what is SA 2018-19 and where did you enter the data please?

SA is self assessment for which you would need to register.

You should search for HMRC Self Assessment to find out more.

littlemoney

RG2015 wrote: »

SA is self assessment for which you would need to register.

You should search for HMRC Self Assessment to find out more.

Thanks. I don't think I qualify as my main income are my pensions which are subject to PAYE. From your description it sounded like SA was an easy way to resolve any tax on savings and investments. As you say the Personal tax account is a right mess.

polymaff

littlemoney wrote: »

I know this is probably a foolish question but what is SA 2018-19 and where did you enter the data please?

Self Assessment. If you can log in to your Personal Tax Account you can get into Self Assessment. Just click on the Self Assessment tab on your PTA home page. (Can someone who isn't in SA confirm this?)

It has taken years for HMRC to get its SA Software working as well as it does - but now that it is as good as it is, it seems, at least to me, to be crazy to try getting what is still very experimental software - the PTA - to work.

Of course, in SA, you have to have, and enter, the earnings, savings, dividend etc.,data - but who do you trust to get it right - you or HMRC? Anyway, even if you don't do SA, you'll need that data to see if the PTA is getting it right !

What I'm seeing on here is akin to the sort of fever that make some folk upgrade to the latest Windows as soon as it is released, sheer masochism - QED.

polymaff

littlemoney wrote: »

Thanks. I don't think I qualify as my main income are my pensions which are subject to PAYE. From your description it sounded like SA was an easy way to resolve any tax on savings and investments. As you say the Personal tax account is a right mess.

My main income nowadays is from PAYE pensions, too. I don't believe that HMRC can refuse SA. Has anyone every been refused?

SA was once in as bad shape as PTA is now, and I wouldn't have been so keen to recommend it as little as 6 months ago but, in October 2018, they made a remarkable leap forward.

Although I filled in all the SA data (all 7 numbers, 1 sentence of text and quite a few tickboxes) yesterday I didn't proceed to the final "submit return" page. That's not lack of confidence in my data - but all I wanted from them was the SA302 calculations so that I could compare them with my own. Keeping the SA unsubmitted also means that when folk on here ask how something or other is handled by HMRC, I can do a what-if and so return an answer in place of a guess.