Did you know you have a Personal Tax Account?

HMRC have introduced a new service which allows individuals to manage their personal tax affairs online. You will need a Government Gateway account and the first time you sign in you will need to prove your identity using either your passport or your P60.

Once logged into your Personal Tax Account you will be able to update your personal details, check your state pension forecast and manage your tax credits. You will also be able to view your PAYE income for previous tax years and update any benefits you receive from your employer such as medical insurance or a company car. More services will be added in the future.

If you are self-employed it is worth accessing your account and checking your pension forecast to see if you have any gaps in your national insurance contributions that may affect your entitlement to the basic state pension. You can usually go back six years and pay for gaps in your national insurance record which may be worth doing if you are only a few years short.

For further information contact Caroline at CP Accountancy on 0116 230 3973.