Update savings income current year

Shylock_249

GMeeg said:

The amount of interest estimated by the revenue is higher than the actual so I have reported the correct figure via my online account.  I have now received a letter from HMRC asking me to itemise the calculation with account details.  
I cannot see where to do this online and the letter doesn't suggest a method.  Can anyone help?

This is the reverse of the letter my wife was sent by HMRC after she notified them online of changes.

You might be able to utilise it?

I

sheramber

The form does not ask for estimates it asks for  the amount received.

J63320

sheramber said:

The form does not ask for estimates it asks for  the amount received.

I had one of these. I completed it (and added 2 extra sheets) for the interest I’ve already received, and then for interest I expect to receive I gave estimates and marked them as such. I’d already got the figures because I’d used them to do the update in my personal tax account. I also told them about other accounts that are not going to pay interest until the next tax year, because I had to sign a declaration that I had told them about all the accounts that I have. I sent it all back with a covering letter which explained that it was only an estimate and that there might be more interest if I close an account before the end of the tax year. They wanted information - they got it, and how! 

I don’t know what else they expect you to do. And am I supposed to stop moving money about now, in case I end up with more than I’ve told them about by the end of the tax year? I can see that HMRC must be quite peeved because you can now earn interest in April of one year and not finish paying the tax due, via your tax code, until nearly 3 years later, so I don’t mind telling them about what I’m getting, but the way this request was worded was ridiculous.

sheramber

They seem to be saying we can estimate your interest payment but you need to give us actual figures, which are 
not available until after the end of the financial year in many cases.

Shylock_249

sheramber said:

They seem to be saying we can estimate your interest payment but you need to give us actual figures, which are 
not available until after the end of the financial year in many cases.

That's right. Both me and my wife knew our figures because all our banks  have already paid interest in this FY. All our accounts are in joint names. We notified them on the HMRC site on the same day. All our accounts are in joint names and the interest the same.

My wife received a letter asking for details and as has been said above it's asking in retrospect so she was able to make the declaration.

For some reason or another HMRC accepted my figures and have adjusted the gov.UK figures without sending me a form. 

Albermarle

sheramber said:

They seem to be saying we can estimate your interest payment but you need to give us actual figures, which are 
not available until after the end of the financial year in many cases.

Not everyone seems to be getting the same letter.
When I changed my estimated interest in my online account, I just got a letter requesting that I send in details of each account and estimated interest. There was no specific form to fill in.
Asking for these details seems to be a new development, so maybe not fully coordinated.

sheramber

Albermarle said:

sheramber said:

They seem to be saying we can estimate your interest payment but you need to give us actual figures, which are 
not available until after the end of the financial year in many cases.

Not everyone seems to be getting the same letter.
When I changed my estimated interest in my online account, I just got a letter requesting that I send in details of each account and estimated interest. There was no specific form to fill in.
Asking for these details seems to be a new development, so maybe not fully coordinated.

My letter states I need to provide the actual amount credited to each account, csi actual figures needed. 

Intoodeep

I altered the amount of Interest received on my personal HMRC PAYE details, and to their word received a new Tax Code reflecting such within 14 days.

sheramber

https://forums.moneysavingexpert.com/discussion/comment/81869795#Comment_81869795

When?

Intoodeep

https://forums.moneysavingexpert.com/discussion/comment/81869809#Comment_81869809

Entered details on January 14th and received new code on January 29th.