The intention is that all individual taxpayers will have access to an individual tax account by April 2016. This will contain details of relevant tax information already available to HMRC. Individual personal tax accounts are already available for many taxpayers, and contain payroll and pension information where relevant. Bank and building society interest are expected to be gradually made available from 2016. As more HMRC systems become aligned more tax information will be available on these accounts, and they will also be able to be used for other services, for example information regarding the state pension. Taxpayers who complete their returns on the HMRC online filing system will find this information already entered on their tax return pages.
Individuals will be able to access their tax account through their HMRC online self-assessment record, although an additional layer of verification will be needed. Those who do not have an online self-assessment record will be able to access the account directly through a new service ‘Gov.uk verify’. A note giving details of personal tax accounts is being included with employee Notices of Coding being sent out prior to the start of the 2016/17 tax year.
In due course it is expected that agents will be able to access clients’ tax accounts, and therefore we will be able to obtain details of information on the accounts directly, so that clients will not need to provide this information to us. However, this facility has not yet been fully developed and at present we will continue to ask clients to provide all tax return information to us directly.
Individual Tax Accounts
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The intention is that all individual taxpayers will have access to an individual tax account by April 2016. This will contain details of relevant tax information already available to HMRC. Individual personal tax accounts are already available for many taxpayers, and contain payroll and pension information where relevant. Bank and building society interest are expected to be gradually made available from 2016. As more HMRC systems become aligned more tax information will be available on these accounts, and they will also be able to be used for other services, for example information regarding the state pension. Taxpayers who complete their returns on the HMRC online filing system will find this information already entered on their tax return pages.
Individuals will be able to access their tax account through their HMRC online self-assessment record, although an additional layer of verification will be needed. Those who do not have an online self-assessment record will be able to access the account directly through a new service ‘Gov.uk verify’. A note giving details of personal tax accounts is being included with employee Notices of Coding being sent out prior to the start of the 2016/17 tax year.
In due course it is expected that agents will be able to access clients’ tax accounts, and therefore we will be able to obtain details of information on the accounts directly, so that clients will not need to provide this information to us. However, this facility has not yet been fully developed and at present we will continue to ask clients to provide all tax return information to us directly.
This entry was posted in News and Comments, Personal Taxes.