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19 June 2020

The Complete Guide to Setting up a Digital Personal Tax Account

Setting up a Digital Personal Tax Account

The digital Personal Tax Account service is a new online resource launched by HMRC to enable you to access and change your tax information easily online so that you can manage your own personal tax affairs without having to write to HMRC or contact them over the phone.

Why should I set up a Personal Tax Account?

Setting up your online Personal Tax Account makes tackling your taxes more streamlined and simple. Dealing with HMRC can usually involve a great deal of hassle and research, but your Personal Tax Account gives you easy access to all the essential information. With a Personal Tax Account, you have the ability to update important details such as changes in your personal circumstances or address and you can identify errors quickly and easily.

For example, when you make a claim to HMRC for a tax refund, they will sometimes change your tax code to account for the expenses and mileage you might have claimed. Since those costs will change over time, you might end up paying the incorrect amount of tax. Having access to a Personal Tax Account makes it more straightforward to view your tax code and make changes if there is an error.

How to set up your Personal Tax Account

Setting up your Personal Tax Account is a relatively quick and easy process. To sign up, you first need to register for a Government Gateway account on the HMRC website. To do this, you will need your P60 and your National Insurance number. Once you have registered your Government Gateway account, you can sign in to your Personal Tax Account using your National Insurance number, your Gateway ID and your password. To sign up, you can visit the Personal Tax Account website here.

For professional accounting services that you can rely on, be sure to get in touch with our friendly team at S. Smith and Co. Accountants in Scunthorpe today.

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