Your Online Tax Account
HMRC now let us access PAYE information and our national insurance record via an online tax account.
The registration process is relatively simple and access to the information is instant once your identity has been verified. You will need your national insurance number when registering for the service and certain documentation to hand – payslips, your latest P60 or your passport.
Once the account is set up you can check your tax code and estimated PAYE income for the current tax year. Additionally, you can update the income if it’s incorrect. The account also holds information about your current benefits and tax credits claim and your state pension age is shown along with your national insurance record. With recent changes to the state pension rules this will be valuable information to many.
According to HMRC the personal tax account “will eventually bring all your information and a host of exciting new services together in one place, putting you in control of your own information.”
‘Exciting’ may be slightly ambitious but ambitious is the name of the game as HMRC are looking to abolish the annual tax return and promote self-service. The personal tax account is a step in this direction. Regardless of HMRC’s long term digital strategy however the personal tax account could be worth a visit.
Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.