Interest details on HMRC Personal Tax Account. Updated to include how to access interest details.

edited 2 October 2019 at 5:27PM in Savings & Investments
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  • youngretiredyoungretired Forumite
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    Husband managed to pay outstanding amount for 18/19 by cheque and won't be over his allowance anymore so shouldn't have any future problems.

    Dad's finally managed to resolve his 18/19 interest and getting it to match what we submitted (HMRC not acting on closure instructions). Fortunately got compensation for time taken (3 months from complaint) and all the tax for savings interest repaid that he had paid within this year, as written off as Revenue Loss.

    Still haven't managed to get accounts for 19/20 correctly showing on his tax account (sent to technical team by the Complaint Manager), but hopefully by the time the banks actually send in the figures (so not duplicated).

    So hopefully no more problems for future years as I have made sure that neither are over their £1000 allowance by using myself and my mum for savings.
  • 20102010 Forumite
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    I can`t understand the following.
    My wife`s state and small private pension adds up to £10,800.
    She gives me 10% marraige allowance leaving her allowance at £11250.
    On savings interest she has her £1k allowance and because of her income she should not pay tax on a further £5k of savings interest.
    The taxman has her down as £580 unpaid tax on interest.
    Which to me (correct me if I`m wrong) means she has earned £6,580 in interest which is competely wrong
    On her PTA they estimate £1,330 which is still way below the £6k allowed.
    What am I missing here?
  • edited 9 February 2020 at 1:34PM
    Dazed_and_C0nfusedDazed_and_C0nfused Forumite
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    edited 9 February 2020 at 1:34PM
    What exactly do you mean by "has her down as £580 unpaid tax on interest"?

    If you mean her tax code allowances have been reduced by £580 then that may be correct.

    She can only use the savings starter rate of tax once she has used her Personal Allowance and she can only use the savings nil rate (aka PSA) once the savings starter rate has been used up.

    Are you sure HMRC haven't estimated her State and private pension income to be £10,670?  Which leaves £580 of her Personal Allowance to be used by her savings interest?
    On savings interest she has her £1k allowance 

    It isn't an allowance, it's a 0% tax band just like the £5,000 savings starter rate and it is used last so of no benefit to your wife as she has spare Personal Allowance and the £5,000 tax band.

  • 20102010 Forumite
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    Dazed and confused,
    Thanks for the reply, please bear with me while I try to find more.
  • Dazed_and_C0nfusedDazed_and_C0nfused Forumite
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    You need to remember that if her State and private pensions total say £10,670 and her tax code is 1067N then no tax will be deducted from the pension income.
  • 20102010 Forumite
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    You need to remember that if her State and private pensions total say £10,670 and her tax code is 1067N then no tax will be deducted from the pension income.
    From her last assessment last May after she informed them of the increase in her private pension.
    personel allow 12500
    less state pen 7287
    less untaxed int. 790
    less transfer allowance 1250
    total tax free amount £3173
    Tax code 317 which just covers her every month paying no tax on her private pension.
    The probem occurs when her pension increases slightly this month which will take her into tax in March.
    And from April (she gets it on 22nd of every month) it will higher.
    We are only talking a few pounds all at most  but I assumed she would have to earn over £6k in interest to put her into tax.
  • Hammer_TimeHammer_Time Forumite
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    My wife has untaxed interest showing in her online account, is there a way for her to check the break down? She has been able to access this in previous years but is now unable to do this.
  • edited 9 February 2020 at 2:28PM
    Dazed_and_C0nfusedDazed_and_C0nfused Forumite
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    edited 9 February 2020 at 2:28PM
    All you need to do is update her private pension estimate for 2019:20 (and 2020:21) on her Personal Tax Account to the figure you expect it to be.  You obviously know things HMRC cannot yet know for the future.

    If her private pension is then expected to be say £3,500 she would have spare Personal Allowance of just £463 so this would be used by her Personal Allowance and her tax code would be 350L.

    Can you clarify where this comes into things though?
    The taxman has her down as £580 unpaid tax on interest.


  • 20102010 Forumite
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    All you need to do is update her private pension estimate for 2019:20 (and 2020:21) on her Personal Tax Account to the figure you expect it to be.  You obviously know things HMRC cannot yet know for the future.

    If her private pension is then expected to be say £3,500 she would have spare Personal Allowance of just £463 so this would be used by her Personal Allowance and her tax code would be 350L.

    Can you clarify where this comes into things though?
    The taxman has her down as £580 unpaid tax on interest.

    She has been on her PTA today and updated her estimate of tax for the current tax year.
    She has also upated her estimate for the next tax year.
    The £528 (down from £790 this year) is what they have estimated her unpaid tax on interest will be for next year.


  • edited 9 February 2020 at 2:46PM
    Dazed_and_C0nfusedDazed_and_C0nfused Forumite
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    edited 9 February 2020 at 2:46PM
    Are you 100% certain about that?

    It sounds much more likely that she has £528 of unused Personal Allowance that is being used up by some of her untaxed interest.

    What makes you believe it is estimated unpaid tax???
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