Did you know that you now have an online Personal Tax Account? Those of you who are self-employed, or are required to complete self-assessment tax returns due to buy-to-let properties or similar, will certainly have been alerted to the changes by now, but employees should also access their online account and learn how to navigate it.
What’s included in my Personal Tax Account
In short, everything to do with your tax affairs is included in the Personal Tax Account. Using the online portal, you can advise HMRC of changes to your circumstances that may have an effect on the amount of tax you pay. As anyone who has previously attempted to contact HMRC by phone will know, the lines can great incredibly busy, meaning the online service brings a significant improvement to the convenience of making any necessary amendments.
Even if nothing has changed recently, it’s advisable to keep an eye on your Personal Tax Account periodically to ensure no mistakes have been made. The sooner an error is spotted, the sooner it can be resolved and the lower the impact on your finances.
Some of the details you can check via your online Personal Tax Account include the following:
- Estimates of the income tax you will be due to pay
- The tax code currently being used to calculate your HMRC liabilities
- An estimated forecast of the state pension you will be entitled to upon reaching retirement age
- A form for informing HMRC if you gain, or hand back, a company car
- Various forms used for claiming tax refunds, deductible work expenses and so on
- Management of your tax credits claim. This can include making a new claim, renewing your claim annually once notice has been received in the post, or reporting any changes which are likely to affect your entitlement
- Facilities for informing HMRC of any changes of address or other personal details
- Checking or updating your Marriage Allowance
- Complete, send or view a self-assessment tax return
The range of services available online is due to be expanded going forward, with a view to the Personal Tax Account becoming a one-stop-shop of sorts.
How to access your Personal Tax Account
If you already have a Government Gateway ID from accessing other online services, you’ll use the same details to log in to your Personal Tax Account. Otherwise, you will need to register before you can gain access.
You will need to have your National Insurance number to hand in order to register.
You can also use the Gov.uk Verify service to log in to your Personal Tax Account. Again, you can register for this service now if you haven’t used it previously. The service can be accessed through this webpage.
Please note that you will need to be identified by an approved third-party organisation prior to completing your Verify registration – the details required by each party may vary, but you can expect your UK driving licence or passport details to be requested.
It may seem odd for HMRC to use certified companies to complete this security step, but it does make sense. The company involved does not know which service you are trying to access, and government departments do not know which company you have used for verification.
Full information on the Gov.uk Verify service, and the certified companies, can be found here.