Month: March 2016

Budget 2016

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The chancellor has announced that the Spring budget statement will be on Wednesday 16th March 2016. Details will be posted here as it is published. BBC News – Budget 2016: What will the chanc…
Source: Budget 2016

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Tax Planning

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The range of options for structuring your income and taxes has been in the spotlight with HMRC for some years now to limit options and to clamp down on legitimately minimising your overall tax liab…
Source: Tax Planning

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Budget 2016

Posted on

The chancellor has announced that the Spring budget statement will be on Wednesday 16th March 2016. Details will be posted here as it is published.
Source: Budget 2016

This entry was posted in Uncategorized.

Budget 2016

Posted on

The chancellor has announced that the Spring budget statement will be on Wednesday 16th March 2016.
Details will be posted here as it is published.

This entry was posted in News and Comments.

Personal Tax Accounts

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In August HMRC announced the live test version of the much publicised Personal Tax Account. We have taken the opportunity to review progress over the last 6 months. We set out to use the simplified Verify system which has limited services.
Set Up
To be fair, setting up a new account was reasonably straight forward. It took a little more than the 10 minutes suggested but it worked as we had all the information to hand. We used the Experian route and the documents used were:
Photo driving licence
Passport
Credit Card
At the end you also need your National Insurance number to log in.
Services Available
There are 4 services presented, Income Tax, National Insurance, Benefits and Credits and Pensions. At this point the only service that is up and running is Income Tax but it seemed to raise more questions than provide informative answers. Disappointingly, the areas that would be of some use and interest such as State Pension information are still under development.
Conclusion
Not quite ready. Fine for us as accountants and tax advisors but we wouldn’t recommend going through the process at this time. Let’s see what the budget brings. Perhaps there will be new announcements and developments. We will hopefully get a clearer picture of the Digital Tax Accounts as well.

This entry was posted in News and Comments.