Checking savings interest reported to HMRC

littlemoney

Is there a way of viewing the savings interest reported to HMRC.

I logged into my tax account but can't find this information. I have received a letter quoting a total amount but no breakdown on how they arrived at this amount.

Any suggestions how to view this information would be appreciated please.

masonic

You can phone them for a breakdown. Or add it up on your side and compare.

Dazed_and_C0nfused

littlemoney said:

Is there a way of viewing the savings interest reported to HMRC.

I logged into my tax account but can't find this information. I have received a letter quoting a total amount but no breakdown on how they arrived at this amount.

Any suggestions how to view this information would be appreciated please.

Not really no.

You can see the total they have got as the estimate for this tax year.  Which is usually the total amount they received for the previous tax year.

But you can't see the breakdown by individual bank account.

RG2015

littlemoney said:

Is there a way of viewing the savings interest reported to HMRC.

I logged into my tax account but can't find this information. I have received a letter quoting a total amount but no breakdown on how they arrived at this amount.

Any suggestions how to view this information would be appreciated please.

I wrote to HMRC on 21 January requesting a breakdwon for Y/E 5 April 2024, and they have acknowledged receipt on 24 January on my personal tax account online.

This acknowledgement was on the Check Progress tab and initially said Received but on Friday 7 February it changed to In Progress

I will post here if and when I receive a response.

The address I used was:

PAYE & Self Assessment
HMRC
BX9 1AS

If you decide to phone them the best time to ring is 07:58 as their phone lines open at 08:00. Later in the week is best as Mondays and Tuesdays tend to be much busier.

The number is 0300 200 3300

https://www.gov.uk/government/organisations/hm-revenue-customs/contact/income-tax-enquiries-for-individuals-pensioners-and-employees

newatc

I phoned them as I disagreed their sum . Said they couldn't send it to me for security reasons (?) but went through the items. Cutting a long story short, I accepted their figure was correct.

pecunianonolet

newatc said:

I phoned them as I disagreed their sum . Said they couldn't send it to me for security reasons (?) but went through the items. Cutting a long story short, I accepted their figure was correct.

That is nonsense, the case worker seemed to have no clue. They can send it out but don't want to do that because it means extra work because they don't seem to be able to just get an automated statement created. if they refuse, kindly point them to their guidance notes.

Ask for your BBSI statement to be send to you. If you don't do a self assessment and they ask why you need it you can just say you want to double check with your own records to make sure you pay the correct amount of tax. If enough people request this, they may develop an interface so the data is visible to everyone in the future online. 

PeskyBlunder

The information used to be available online a few years ago but it disappeared at some point - maybe inaccurate? Anyway, last year and this year I've received a P800 saying I had paid too little tax, but their figures and mine disagreed and I'm pretty sure it was because Marcus had not reported interest. I paid the amount requested and also wrote to them with my figures but never heard anything more from last year - the progress is "Completed". This year's is currently "Received".

Albermarle

If you decide to phone them the best time to ring is 07:58 as their phone lines open at 08:00. Later in the week is best as Mondays and Tuesdays tend to be much busier.

I also always now phone them early morning, and usually get through in 5 to 15 minutes ( not counting all the blurb first about 'you can check most things online etc') 

I once tried to jump the gun and called at 07.58, listened to all the blurb and although it was >8.00 by the time I should have got in the queue, nothing happened. So I assumed calling before 08.00 did not work, so interesting that you say it can work. 

refluxer

PeskyBlunder said:

last year and this year I've received a P800 saying I had paid too little tax, but their figures and mine disagreed and I'm pretty sure it was because Marcus had not reported interest.

It's funny you should mention Marcus, because the total amount of interest HMRC thought I'd received for the 2023-24 tax year (based on the amounts reported to them by the banks and building societies) was substantially less than the amount I actually received, so I thought I'd see if the shortfall corresponded to any particular suspects and I've now got a short-list which includes Marcus. Together with three others, the interest paid to me by the four of them adds up exactly to the shortfall between my own figure and the one provided by HMRC.

As this was the first year I've had to self-assess, I was able to correct this but I might get in contact with HMRC at some point anyway as it would be interesting to see which banks and building societies are not complying.

RG2015

Albermarle said:

If you decide to phone them the best time to ring is 07:58 as their phone lines open at 08:00. Later in the week is best as Mondays and Tuesdays tend to be much busier.

I also always now phone them early morning, and usually get through in 5 to 15 minutes ( not counting all the blurb first about 'you can check most things online etc') 

I once tried to jump the gun and called at 07.58, listened to all the blurb and although it was >8.00 by the time I should have got in the queue, nothing happened. So I assumed calling before 08.00 did not work, so interesting that you say it can work. 

Looking back at my records, my last phone call was on Tue 28 Feb 2023. My notes say that at 07:56 the auto response was "the office is closed".

My next note is that I was speaking with Lily at 08:00. I guess I must have redialled. 

I do recall that I had got through to them and the line went dead unexpectedly. I wonder if at, or about 08:00 the lines may become unstable as they are being switched from office closed to office open.

lr1277

In November or December my mum got a tax code notice saying her tax code was increasing now because they had underestimated the interest she paid in 23/24.

I didn't understand that and on phoning them they basically explained they are changing the tax code to collect the tax on the interest now so my thinking is they are collecting it now instead of waiting for mum to submit her SA return and pay the tax then. Otherwise mum submits an SA return and pays all relevant taxes.

Anyway the upshot of that conversation is I asked for a copy of the interest statement which was duly sent. It listed each organisation and the amount of interest submitted by each of them. Funnily enough it did not include the interest from NS&I accounts.

Anyway we checked their paper statement against our records and we had missed one maybe 2 institutions but in each case the interest earned was less than £10. Fortunately we got this in time before we submitted the 23/24 tax return so we submitted the correct interest figures in the 23/24 return and more to the point the figures we submitted matched what HMRC had on record.

Edited to correct misremembered information.