Amending HMRC untaxed interest estimate for 24/25?

soulsaver

MY OH's interest estimate by HMRC is £'ks overestimated and she's a higher rate payer.

Can we amend it online?

We haven't been able to find an option to amend it when logged in to her personal account, so can someone point us to where it is?

Or is a long phone call or unreliable post the only options?

Keep_pedalling

Yes you can, I no longer do SE, but from memory you just change the numbers on your current return and submit it again. 

Dazed_and_C0nfused

soulsaver said:

MY OH's interest estimate by HMRC is £'ks overestimated and she's a higher rate payer.

Can we amend it online?

We haven't been able to find an option to amend it when logged in to her personal account, so can someone point us to where it is?

Or is a long phone call or unreliable post the only options?

You can definitely change things during the current year if you wish.

But as far as I can tell there is no complete online option for this.  You need to provide HMRC with updated information for each bank account they have (estimated) details for for the current tax year.  Including if that is confirming the current year interest for a particular account will be £0.

There is a quicker alternative.  I have come to the conclusion that details on your Personal Tax Account are only updated each time a tax code calculation is done.  So if you think they are using actual interest details from 2022-23 as estimates for 2024-25 then it might be worth her simply updating her estimated taxable earnings (or pension) income for the current tax year and this in itself should prompt a new tax code calculation and she can then delve into the details of that in her Personal Tax Account in a few days.

This also has the slight advantage that she will be able to provide a more accurate estimate of her earnings than HMRC will ever produce, simply because no but her will know what she might be paid over the remaining few months of the current tax year.

Dazed_and_C0nfused

I should have added, the above suggestion is based on the expectation that the actual 2023-24 interest details have probably now been updated by HMRC, they just might not have used this info in a new 2024-25 tax code calculation yet.

badmemory

As they still haven't got my 23/24 actual interest on my account, so almost 6 months later than usual frankly I would not worry too much.  Once you get a tax code for the 25/26 tax year (hopefully by Feb) & that is showing a significant problem then contact them.  They are so far behind at the moment that it is becoming a joke.  This is nothing to do with working from home as last year & the several years before I had notification in July & this year over 5 months later nothing.