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

That makes sense to some degree but not everyone will need to file a return and plenty won't want to do it just because they have gone to the trouble of opening a lot of accounts to maximise their interest return.

Particularly with such a lot of the interest being taxed at 0% these days!!

schiff wrote: »

The weakness in the whole system is that each figure used in the current coding is an estimate or last year's correct figure or a figure that has been reported to them. The last item should be reliable, last year's figures could be miles out or the source of last year's interest doesn't exist any more.

No, my PSA has the correct this-year figures for all my coded-out items, both real and imaginary.

The weakness in the whole system, I suggest, is the hubris that envelops HMRC when it comes to software. This latest contribution to MTD's "The Death of the Annual Return" is being fielded when it just doesn't work - just like with their SA software.

There's nothing difficult with the software HMRC needs - neither in writing a competent specification nor in implementing it - nor in coding it. That hasn't stopped HMRC deploying version after version that contain serious errors.

Here they are, doing it again.

polymaff wrote: »

Yes, but only to receive priceless advice such as:

" Banks don't inform us of interest anymore. They stopped that in 2015"

Well that can't be right, mine had loads of accounts in it from 17-18 tax year

youngretired wrote: »

I was told this re HMRC no longer gets told by the banks, but when I asked them to double check with the managers, they then confirmed that YES banks do provide them!

However not all banks and certain banks only provide for some customers.

Lloyd's provided my husbands details, but not my mum and dad's. When my parents asked Lloyds they said that they don't provide details to HMRC!!!!

NS&I (government agency) failed to notify HMRC (government agency) of interest credited to several accounts in my name and in that of my late sister. You couldn't make it up:(

I have now had my code for 19/20 and they have used my 17/18 reported interest as the expected figure for 18/19 and the proposed figure for 19/20. I am happy with the 17/18 figure and the amount for the 18/19 & 19/20 interest too. But the accounts yielding the interest have changed.
Is it OK for me to delete those that don't exist any more and add the new ones which still give approximately the same figure. By using the online PTA or do I have to use a webchat or send a letter. Does the system automatically pick up the changes or do you have to notify them.
Or is it not worthwhile and best for the institutions to notify them at the end of each tax year where I assume the changes will be made. If it is worthwhile to manually change the PTA. When is it best to make the changes.