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Personal Taxation

Personal Tax Accounts

HMRC are keen for individuals to set up their own personal tax account. It should take about 10 minutes and you will need to identify yourself, so have your NI number to hand and a copy of either your P60 or latest payslip. Once you have set yourself up you can use the account to;

  • check your Income Tax estimate and tax code
  • fill in, send and view a personal tax return
  • claim a tax refund
  • check and manage your tax credits
  • check your State Pension
  • track tax forms that you’ve submitted online
  • check or update your Marriage Allowance
  • tell HMRC about a change of address
  • check or update benefits you get from work, for example company car details and medical insurance
  • find your National Insurance number

If you are self employed you can use it to;

  • find out your Unique Taxpayer Reference (UTR)
  • read any secure messages
  • file your Self Assessment
  • see and print your tax calculation
  • appeal a Self Assessment late filing penalty
  • tell HMRC you’re no longer self-employed
  • see your HMRC Annual Tax Summary online
  • apply to reduce your payments on account if your circumstances change
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When is the Self Assessment Deadline?

You have until 11.59pm on 31st January 2024 to submit your online self assessment tax return for the 2022/23 tax year, which ended on 5th April 2022, to HMRC. This is also the deadline to pay any tax due. If you miss the deadline you will be fined £100. This applies even if you don’t owe any tax or are due a refund!

You’ll need to submit a tax return if, in the last tax year:

  • you were self-employed
  • you got £2,500 or more in untaxed income, eg from renting out a property or savings and investments
  • your savings or investment income was £10,000 or more before tax
  • you made profits from selling things like shares, a second home or other chargeable assets and need to pay Capital Gains Tax
  • you were a company director – unless it was for a non-profit organisation (eg a charity) and you didn’t get any pay or benefits, like a company car
  • your income (or your partner’s) was over £50,000 and one of you claimed Child Benefit
  • you had income from abroad that you needed to pay tax on
  • you lived abroad and had a UK income
  • you got dividends from shares and you’re a higher or additional rate taxpayer – but if you don’t need to send a return for any other reason, contact the helpline instead
  • your income was over £100,000
  • you were a trustee of a trust or registered pension scheme

Harmonea Ltd can submit your tax return for you but don’t leave it to the last minute!Facebooktwitterredditlinkedinmail