Exciting changes are happening at HMRC. Whatever you think of ‘the taxman’, HMRC can be surprisingly helpful.
And now they’ve gone digital!
They’ve recently launched an online portal where you can access all sorts of useful information and take control of your tax affairs, including:
- Your state pension forecast, so you know exactly how much you’ll get when the time comes to claim it
- Your tax code, so you can see how it’s calculated (whether you’re employed on PAYE or already drawing your pension)
- Your National Insurance record, so you can check that it’s correct
- Information about your income tax, benefits and tax credits
- Online help and web chat, so you can get speedy answers to your questions
You used to have to go through a complex application process to access this information, so the portal completely changes the way HMRC interacts with people. You can now download what you need, whenever you need it, and the information will always be right up to date.
It’s early days, but the portal is planned to develop into a central focus for a wide range of valuable information. In fact, by 2020, HMRC will be one of the most digitally advanced tax administrations in the world.
This video tells you more:
Signing up is a great idea
To sign up for your personal HMRC account, pop over now to https://www.gov.uk/personal-tax-account
You will need:
- Your National Insurance number
- Your passport (to confirm your identity)
- Your phone number (mobile or landline)
- Access to the internet and your emails
As part of the process, you will also need to set up a Government Gateway account and two-step security verification – unless you’ve done this before. Allow about ten minutes the first time. After that, it’s a lot quicker.
Remember to make a note of your User ID and password for future use.
P.S. Want to get involved? HMRC are running a series of webinars and face-to-face events around the UK, to consult stakeholders, answer questions and collect feedback. The consultation period runs until 7 November. Check this link for more information https://www.gov.uk/government/collections/making-tax-digital-consultations
P.P.S. Run a business? Watch this video to see how the new HMRC app can make your record-keeping easier.