It’s the future of accounting as we know it. Do you know where yours is? 

The Post Office conducted research on personal tax. Most people in the study said that they wanted a “better understanding and management of their personal tax matters”. However, nearly half of the people asked had never even seen inside their Personal Tax Account.

Maybe you’re sitting at your desk right now wondering…

• What is a Personal Tax Account?
• What can I do with a personal tax account?
• Can I still do my tax by thrusting a shoebox of receipts at my accountant?
• Where is my Personal Tax Account? (This is an easy one. It’s stored on the internet).

What is a personal tax account?

Launched in 2015, a Personal Tax Account is an online portal to manage your interactions with HMRC, all in one place. You can access it at GOV.UK.

With a Personal Tax Account, you can sort your tax affairs online instead of having to write in or wait for hours on hold to HMRC. You use a Personal Tax Account whether you are self-employed, employed, or even if you earn additional income while you have a job.

If you’ve previously registered for Self Assessment online, you’ll already have a Personal Tax Account. You’ll just need your Government Gateway user ID and password to log in.

What can I use a personal tax account for?

Here are some examples of what you can use your PTA to do:

• Filling in, sending and viewing your tax return
• Claiming a tax refund, for example, if you were overpaid tax through PAYE
• Tracking the tax forms you’ve submitted online
• Telling HMRC that you’ve changed your name or address
• Finding your National Insurance number
• Viewing an estimate of how much Income Tax you’ll pay
• Finding out your Income Tax tax code
• Getting your State Pension forecast
• Renewing, checking and managing your Tax Credits
• Checking or updating your Marriage Allowance

If you are comfortable using the computer, a Personal Tax Account is a great way to manage your taxes. It helps you become more familiar with your tax responsibilities, making itax feel less daunting and easier to deal with.

What can I use a personal tax account for?

Absolutely! As accountants, it is our responsibility to meet clients wherever they are. Eazitax’s ethos is that we work in whatever way is best for you. If you would rather throw receipts in our direction, have us make it into a tax return and submit it for you – we are happy to do that. If you never want to sign in to your Personal Tax Account, that’s fine. However, if you’d like access to your tax information anytime and are somewhat tech-savvy, the Personal Tax Account could be for you.

Can I still do my tax by thrusting a shoebox of receipts at my accountant?

Absolutely! As accountants, it is our responsibility to meet clients wherever they are. Eazitax’s ethos is that we work in whatever way is best for you. If you would rather throw receipts in our direction, have us make it into a tax return and submit it for you – we are happy to do that. If you never want to sign in to your Personal Tax Account, that’s fine. However, if you’d like access to your tax information anytime and are somewhat tech savvy, the Personal Tax Account could be for you.

Final thoughts

Your Personal Tax Account is your portal to manage everything to do with tax and the HMRC. It’s the future of how we’ll do tax and will be increasingly important as time goes on. For example, you can use it to send your tax return, claim a tax refund or find estimates of how much you’ll need to pay. But that’s just a few things you can use it for. You’ll be able to do anything you would typically call up HMRC to do. 

When Making Tax Digital comes in officially, the Personal Tax Account will become central to your tax experience. Take a look at yours at GOV.UK.

Does it all sound a bit complicated? Please don’t be intimated by HMRC’s new shiny online portal. You will always be able to pick up the phone to us, we’ll take care of your tax without you needing to lift a finger. Have questions? Call us today. 

Setting up a personal tax account (step-by-step)

Registering for a Personal Tax Account is free and can be done in just 10 minutes.

You’ll need:

• Your National Insurance number.
• Your Passport.