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All Paul Limited

17 Longwood Crescent, Shadwell, Leeds LS17 8SR

Serving Alwoodley, Shadwell, Roundhay and more.

Telephone: 0113 225 2232

Email: Send us a message by clicking here.

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Sage 50 Accounts training

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ACCA Accountants in Leeds

Leeds Accountants, making a difference

© 2018 by All Paul Limited.        All Paul Limited is a company registered in England and Wales with company number of 08367537.

Director: Paul Clifton

  
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Personal Tax Accounts

August 22, 2015

 

HMRC is introducing secure digital tax accounts for individual taxpayers which is also going to help employers.

 

The new Personal Tax Account brings together each individual’s details in one place with all the information those taxpayers need to do business with HMRC. It means that employees will be able to check for themselves things like their tax code and how it’s been calculated.

 

This new service, which will work like an online bank account, was introduced in July 2015. HMRC are working with a wide range of employers and asking them to invite their employees to test the accounts so HMRC can get their feedback to ensure it meets their needs before HMRC develop and expand what taxpayers can do using them.

 

Once they’ve registered, employees testing the service will be able to update their information and use the ‘Check your Income Tax estimate’ service. They will be able to check their sources of income subject to PAYE, their personal allowances, their tax code, and an estimate of the tax they will pay. If they see that details are incorrect, they’ll be able to change them online. This part of the service will eventually replace the P2 notice of coding sent to PAYE taxpayers.

 

HMRC will be adding more services to the Personal Tax Account and aim to make it available to more taxpayers between now and the end of the year. By early 2016 HMRC expect 10 million taxpayers to have access to their own account. By 2020, everybody in the UK will have one. They will be able to register, file, pay and update their information, at any time of the year, using the digital device of their choice.

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