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Personal tax accounts 'first birthday'

The government are celebrating the 'first birthday' of their award winning Personal Tax Account which recently won Digital Project of the Year at the annual UK IT Industry Awards.

HMRC have announced that in its first year, the Personal Tax Account has attracted more than seven million users and there have been millions of transactions including:

  • 1.6 million Income Tax repayments, worth more than £800 million
  • 1 million tax credit renewals
  • 100,000 people checking or updating their company car details
  • 1.6 million people checking their tax estimate
  • 2 million people checking their state pensions.

The press release also states that the Personal Tax Account is designed to be one stop shop for all customer interactions with HMRC and taxpayers using it can:

  • check their state pension
  • complete and return a Self Assessment tax return
  • update tax credits circumstances as they change throughout the year to prevent under and overpayments
  • claim an Income Tax refund that will be paid straight into their bank account
  • check and update their Marriage Allowance.

If you would like advice on your personal tax affairs please contact us.

Internet link: GOV.UK news

02 Aug 2018

Bank of England raise interest rate

The Bank of England has raised the interest rate from 0.5% to 0.75%.

02 Aug 2018

Making Tax Digital for VAT

HMRC has published further information on Making Tax Digital for VAT (MTDfV).

02 Aug 2018

Scotland introduces relief for first time buyers

First-time buyers in Scotland will be helped to purchase their first home through a new tax relief which applies to Scottish Land and Buildings Transaction Tax (LBTT).