Still waiting to hear from HMRC

CaptainWales

I still haven't heard anything yet and no change in my online account.

SiliconChip

DRS1 said:

Well it is your tax bill.  If you want to leave it to someone else to send in the figures then you need to be confident they will get it right (and it does not sound like you can rely on Chase to do that)

I will of course check the figures that they submit once HMRC have them, as I have done with all the other interest payments I received. However, I think we as taxpayers should be able to have confidence in the banks to submit the correct figures, I would imagine that I am in a very small minority of people who maintain good enough records to be able to drill down and validate the figures held by HMRC. Yes, many of the people who do that will be MSErs, but there will surely be many more people who wouldn't have a clue whether the interest recorded by HMRC is correct.

DRS1

SiliconChip said:

DRS1 said:

Well it is your tax bill.  If you want to leave it to someone else to send in the figures then you need to be confident they will get it right (and it does not sound like you can rely on Chase to do that)

I will of course check the figures that they submit once HMRC have them, as I have done with all the other interest payments I received. However, I think we as taxpayers should be able to have confidence in the banks to submit the correct figures, I would imagine that I am in a very small minority of people who maintain good enough records to be able to drill down and validate the figures held by HMRC. Yes, many of the people who do that will be MSErs, but there will surely be many more people who wouldn't have a clue whether the interest recorded by HMRC is correct.

I am sure you are right about that.  Having to do a self assessment (as I do) keeps you on your toes in that regard.

CaptainWales

I am still waiting to hear from HMRC .... 

Dazed_and_C0nfused

CaptainWales said:

I am still waiting to hear from HMRC .... 

You know the saying, a watched pot never boils 😉

jem16

CaptainWales said:

I am still waiting to hear from HMRC .... 

HMRC had still not calculated Dad’s 2023/24 tax when I was last able to look. He passed away on the 9th January so, as executor, I am fully expecting a bill at some point for 2023/24 and possibly 2024/25.

MrsWenger

It seems to me, but perhaps I am naive, that there would be far fewer engagements with HMRC if it was possible to view and cross refer information relating to savings, and therefore the tax owed, online.

If members of the HMRC team can share this information via a telephone conversation or online chat it must be readily available. 

Perhaps this is something which will be available in the future…

Dazed_and_C0nfused

MrsWenger said:

It seems to me, but perhaps I am naive, that there would be far fewer engagements with HMRC if it was possible to view and cross refer information relating to savings, and therefore the tax owed, online.

If members of the HMRC team can share this information via a telephone conversation or online chat it must be readily available. 

Perhaps this is something which will be available in the future…

I'm sure you are correct.  A few posters even remember it being available via your Personal Tax Account a few years ago.

The information here refers to updates HMRC staff can make.

https://www.gov.uk/hmrc-internal-manuals/paye-manual/paye130060

Providing the information at bank account level details would doubtless prevent some contact with HMRC.  But maybe then a different group of people would have questions about what was (or wasn't) shown 🤔

RG2015

MrsWenger said:

It seems to me, but perhaps I am naive, that there would be far fewer engagements with HMRC if it was possible to view and cross refer information relating to savings, and therefore the tax owed, online.

If members of the HMRC team can share this information via a telephone conversation or online chat it must be readily available. 

Perhaps this is something which will be available in the future…

They used to do this a few years ago but they suddenly stopped. It possibly caused more confusion than it was worth.

The main issue is that there are usually three tax years on the go at any one time.

My actual untaxed interest for 2023/2024 has just been finalised by HMRC. This was used to an increase my PAYE tax code for 2024/2025 and then used for my initial tax code for 2025/2026.

MrsWenger

Thank you for your posts Dazed_and_C0nfused and RG2015. 

It does seem likely that making the information available caused issues of other kinds.

I was looking back on some legacy information I had collated and within it I had a list from a few years ago where I had captured the interest paid by various accounts and I was sure I must have done that from information on within my Personal Tax Account but doubted myself given I couldn’t find it again. Good to confirm I haven’t taken leave of my senses! 🙂

Interesting link Dazed_and_C0nfused, thanks for sharing it.