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The Personal Tax Account – Making Tax Digital Gets Personal!

While some aspects of Making Tax Digital have been deferred for the moment, others are already in place.

Heralded when first proposed in 2015 as the “Death of the Tax Return”, much of the government’s Making Tax Digital programme has been pushed back to April 2020 (with the exception of VAT reporting).

However, while the corporate aspects of the Making Tax Digital agenda have been temporarily shelved, HMRC have been quietly setting up a Personal Tax Account for every individual taxpayer.

That’s right, we now all have a Personal Tax Account with the HMRC. All you have to do is register to use it, which you can do by clicking here.

So why should you register to use your Personal Tax Account – what’s in it for you?

Once you’ve registered for your account, you can do a number of things without having to pick up the phone or write a letter to HMRC:

  • Check and amend your address details
  • See the tax code provided to your employer – or to each employer if you have more than one job
  • View an estimate of the amount of tax you are likely to pay for the current year AND the following year
  • See how your tax has been calculated
  • Claim any tax refund due to you, getting it paid directly into your bank account within 5 days
  • Get estimates for your state pension
  • Track your National Insurance records to make sure it is all correct
  • Apply for the Marriage Allowance
  • Manage your child benefit & opt outs if you are a high earner who doesn’t want to incur the High Income Child Benefit Charge

In addition, if you are self employed, there are a number of other options, including:

  • Filing Returns
  • Checking tax calculations
  • Appealing penalties
  • Notifying HMRC if you cease to become self employed.

So while Making Tax Digital is proving contentious for businesses, the Personal Tax Account is very simple and easy to use from your desktop or laptop computer, your tablet or your smartphone – and is available now.

It’s very easy to register and HMRC even provides videos to help you:

If you’d like some help getting set up on or using your Personal Tax Account, contact your tax adviser at Rawlinsons on 01733 568321, who will be happy to help you.