The Personal Tax Account was introduced at the end of December in 2015 and was designed in order to “revolutionize the way customers interact with HMRC” and help individuals to manage and review their tax affairs on the internet. Accessible via the online portal of the government GOV.UK the Personal Tax Account service is web-based service that lets people be able to access their tax records. As per HMRC: “Your Personal Tax Account is a secure and safe location to review, modify and manage your tax information with HMRC online at any time. It combines all your tax data all in one location. It doesn’t matter if you have to make changes to the tax that you pay or you have questions about the date the due Tax Credit payment date is and when, the Personal Tax Account will be able to assist. The Personal Tax Account provides you with an easier and faster method to make changes anytime, day or night, instead of having to phone and write.”
WHAT CAN YOU USE YOUR PERSONAL TAX ACCOUNT FOR?
No matter if you’re employed, self-employed or have income via other avenues (eg renting out a home) you are able to use the Personal Tax Account for:
- Fill in, mail and review a personal tax return
- Request tax refunds (eg in the event that you paid tax too much through PAYE)
- Keep track of tax forms you’ve filed online. Track tax forms you’ve filed
- Inform HMRC that you’ve changed your address or name.
- Locate the National Insurance number
- Find out an estimate of the amount tax you’ll have to pay on your income.
- Learn about/modify your income tax code Tax tax code
- Find out the amount you earned from your job in the past five years, and also how much you owe in Income Tax or National Insurance you’ve paid during the time
- get your State Pension forecast
- renew, monitor and monitor your Tax Credits
- check or update your Marriage Allowance
- Changes to your report that impact any child Benefit you receive
- Learn about the benefits of employment or update any you have, for example, an employee vehicle.
HOW TO SET UP AND ACCESS YOUR PERSONAL TAX ACCOUNT
Let’s face it there aren’t any actual 10 minute jobs. In fact, HMRC declares that it should take 5-10 minutes to install.
To begin, you’ll be required to log in to your gateway for government accounts.
The online form can be completed in a matter of minutes because it is essentially creating a security protocol and entering your data. The time it takes to get the data you require depends on how well-organized your paperwork is organized to begin with.
Things you must know prior to starting:
- NIN (this is located on your pay slip)
- Recent payslip
- The most recent P60 or UK passport (must be up-to-date)
- Your mobile or landline number as part of the two-step security
- Select the email address you wish to add to the account.
Now that you’ve got everything put together, simply visit Government Gateway and select either the individual, the organization (if you are representing a company) as well as the agent (if you represent someone else’s financial affairs for the public) column to begin with the process of registration.
This can be done in four well-defined steps:
- Input your name as well as your email address, and then enter an individual password. The software will generate an ID for you. Government Gateway User ID.
- For logging to the very first time you’ll require this User ID, a password, and the unique 6-digit number code. In this step, you will need to specify which number you would like this message to reach, a landline or mobile. A text message to a mobile phone is the most convenient option, however, it’s your choice. Once you have received the code, you need to enter it in the appropriate area to get your identity verified.
- Answer security-related questions based on the information you have provided from your passport, P60 and payslips.
- You will have your identity confirmed through your answers. Then you’ll be able to access everything on your personal tax account.
It’s over, next time, you’ll need your username and password to login to your account.
If you encounter any issues with the procedure, you can call HMRC to get some assistance.
Security and safety
You are the sole person that can access your personal tax account using your personal username and password. The service is available only to those who complete the registration process the same way as you. HMRC is very concerned about security and has firewall security as the norm for all of its systems. This ensures the highest security for your personal information since it blocks any attempts to gain access that are not authorized. All information you submit to HMRC online is protected and your account will only be viewed by you.
Share information with your accountant
Your Tax Account Personal is an excellent way to keep track of all the tax information you have. It can be used for tax experts who require information for filling out the tax return or to submit an application for tax rebate. Instead of writing down all the details You could simply capture a screenshot of the personal Tax Account page and include it in your email. You will always require the tax year of your tax return and the name of your employer if we’re working with your earnings. If you want to log in on your own account. then give us a call , and we’ll read all the numbers on the phone.
