K Benjamin
by on June 29, 2022

The Association of Taxation Technicians (ATT), encourages taxpayers to establish a Personal Tax Account (PTA).

This is because HM Revenue & Customs' (HMRC) renewed their commitment to PTAs in the context of a single digital account for taxpayers at their annual stakeholder meeting, which took place at the end last month. This shows that PTAs are an integral part of the 10-year strategy for the tax authority.

ATT states that if someone has not yet set up a PTA there are five reasons they might find it helpful:

1. View your state pension history and National Insurance contributions

Your National Insurance record, which contributes to your state pension, can be viewed in your PTA. It is possible to see the number of qualifying years that you have, and whether there are gaps. HMRC reports that the "Check your State Pension" service is very popular with over one million sessions per month.

2. Do not queue at helplines

Many simple tasks can be done quickly and easily online using the PTA. This saves you the hassle of waiting on HMRC helplines, which are still busy due to the Covid-19 pandemic. You can change your address, confirm and print your National Insurance number. You can also claim tax reliefs like the marriage allowance online.

3. Completion of your tax return

You can submit your tax returns online through the PTA if you are self-employed or have rental income. It's easy to track your progress. Once your return is complete, you can view your tax calculation, what you have to pay, and when. If your circumstances have changed or your income has dropped, it is easy to update your tax return and claim reductions.

4. Report a Change in Tax Credits

Tax credits holders can quickly and easily report any changes to HMRC via the PTA. This will ensure you receive the correct amount in tax credits and not over- or underpayments depending on your circumstances.

5. Check your PAYE details

You can use the PTA for those who have employment income to verify your employment details, pension(s), and any other income information that HMRC has and correct any errors. You can also view the details of your tax code. Home working can be eligible for tax relief, which will prove to be more relevant because of the pandemic.

"For those who are able to engage digitally with HMRC it is possible to get a tax answer faster than waiting on a helpline.

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