P800 for 2024/2025

RG2015

SevenUpPear8 said:

@RG2015 I hope you don't mind me asking here, but I noticed in that other thread that was linked above, you had updated your expected interest using the personal tax account, under the 'Investment income' option.

I want to do the same - I expect to receive total non-ISA interest of £1500 this year. It asks for taxable interest income, but I wasn't sure whether to put in £1500 or £500 (personal savings allowance of £1000), but I put in £1500 as I thought it's all technically taxable.

I see in that other thread you put in the total amount as well - please can I check if that had come through correctly at the time, and that I have done the right thing?

(i.e. before they overwrote it with your £666 figure you mention above).

@SevenUpPear8

If you receive £1,500 non ISA interest it is all taxable. This is not a technicality, but tax law. If you are a basic rate taxpayer then £1,000 of this is taxable at 0% and the rest at 20% (currently).

The link you provided in your earlier post no longer works for me, although you can see the figure HMRC are currently using on another page. This may not add together two years interest as yours had done.

My figure did come through correctly but clearly now it has been overwritten with with an incorrect amount.

SevenUpPear8

Thanks @RG2015. Yes my old link no longer works, but I can see on another page they updated the estimated 2025-26 interest to be the same as the 2024-25 actual (from the P800).

I will submit the full £1500.

RG2015

SevenUpPear8 said:

Thanks @RG2015. Yes my old link no longer works, but I can see on another page they updated the estimated 2025-26 interest to be the same as the 2024-25 actual (from the P800).

I will submit the full £1500.

I assume your P800 figure is correct for 2024/2025, but not suitable for 2025/2026.

In January of this year I gave figures for 2024/2025 and 2025/2026. They did use the 25/26 figure correctly but I seem to recall that they didn’t amend the 24/25 figure in time for my tax code to be corrected.

SevenUpPear8

“I assume your P800 figure is correct for 2024/2025, but not suitable for 2025/2026.”

Yes - exactly. 2024/25 was correct and I’ve paid the tax owed by debit card. But 2025/26 interest will be much less. 2026/27 interest will be close to zero but I’ll cross that bridge when I come to it.

RG2015

RG2015 said:

SevenUpPear8 said:

@RG2015 I hope you don't mind me asking here, but I noticed in that other thread that was linked above, you had updated your expected interest using the personal tax account, under the 'Investment income' option.

I want to do the same - I expect to receive total non-ISA interest of £1500 this year. It asks for taxable interest income, but I wasn't sure whether to put in £1500 or £500 (personal savings allowance of £1000), but I put in £1500 as I thought it's all technically taxable.

I see in that other thread you put in the total amount as well - please can I check if that had come through correctly at the time, and that I have done the right thing?

(i.e. before they overwrote it with your £666 figure you mention above).

@SevenUpPear8

If you receive £1,500 non ISA interest it is all taxable. This is not a technicality, but tax law. If you are a basic rate taxpayer then £1,000 of this is taxable at 0% and the rest at 20% (currently).

The link you provided in your earlier post no longer works for me, although you can see the figure HMRC are currently using on another page. This may not add together two years interest as yours had done.

My figure did come through correctly but clearly now it has been overwritten with with an incorrect amount.

I randomly clicked on the link and it is now active again.

https://account.hmrc.gov.uk/paye/iabd/ 

SevenUpPear8

Hi @RG2015, just so you know, you don't have to rely on that link directly. It's also accessible via the personal tax account when you log in. It's the link in the attached photo here. Sometimes it's the new version, like it is today, sometimes it goes through to the old version. I can only assume they are testing something when they do this.

RG2015

@SevenPear8

Thanks for this. However, I have never been able to access this page the way you say. That method takes me to a different page.

I have only ever been able to access tax code history and PAYE information details from your original link.

It may be down to saved cookies or similar but these IT tokens have always been a mystery to me. Much the same as how HMRC work, totally illogical!