HMRC have introduced a new digital service that will enable individuals, including freelancers and contractors, to receive a better understanding of their tax affairs. The Personal Tax Account (PTA) is now available to individual customers and gathers information together in one place, simplifying the way people access their personal tax affairs online.
This service won’t change the way agents interact with HMRC. Agents can continue to file SA returns using the existing portal service.
Freelancers and contractors will receive benefits using this system as they can opt to receive electronic rather than paper communications, although, agents will continue to receive paper copies for clients. The account can also be used to:
- view and update personal details
- access a range of iForms which they can complete and submit online
- view and amend an estimate of the income tax they’re likely to pay in the current tax year
- tell HMRC about changes to certain taxable benefits from their employer.
Digital Self-Assessment customers will transfer from Your Tax Account to the Personal Tax Account allowing them to take advantage of these additional services. Self-Assessment customers who are self-employed or pay taxes such as VAT or Corporation Tax, will be given access to their Personal Tax Account. Furthermore, HMRC will continue to develop the account based on feedback from users and in depth research.
The new Personal Tax Account isn’t designed for the agent use although HMRC will continue to improve the service to provide agent access.
Here at Gorilla Accounting, our contractor specialist accountants will provide a same day response if you contact us before 3pm under our client service guarantee. In addition, your personal return is included within our all-inclusive package as well as your own dedicated accountant for just £85 + VAT per month! If you’re interested in a free trial of our online bookkeeping software, do not hesitate to contact us on 0330 024 0406.