https://taxagents.blog.gov.uk/2014/04/24/annual-tax-summaries-are-coming/

Annual Tax Summaries are coming

Annual Tax Summaries begin from October. Your clients may start to hear about these and ask you about them.

Tax Summaries are part of the Government’s commitment to creating a more transparent personal tax system, one that shows individual taxpayers how much tax they are paying and how the Government spends it.

Tax Summaries will detail individual taxpayers’ income tax and National Insurance contributions for the tax year 2012 to 2013, and will include a table and chart to show how this contributes to different areas of public expenditure, such as health, education and defence and so on..

In this first year they will be issued to:

• Self Assessment (SA) customers who have registered and enrolled for online services
• PAYE customers who have receive a P2 Notice of Coding or a P800 Tax Calculation

SA customers will access their Tax Summary online. Individuals in PAYE will receive theirs by post.

Individuals who are registered for SA online will be able to view their Tax Summary soon after their tax return has been filed. It will be updated if the return is amended.

Tax Summaries are for information purposes only. You and/or your clients will not need to take any action - and you won’t need to contact HMRC when you receive it. Supporting web information will also be available.

We’ll provide regular updates ahead of the first Tax Summaries going out in October. Please feel free to contact us by responding to this blog if you have any questions.

7 comments

  1. Paul Shearon

    When HMRC is constantly being urged to cut costs to the very bone, how much is this pointless exercise going to cost?

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    • ruthbulteel

      Thank you for your comment. We've had a number of comments on this subject and will post another blog to address all the concerns and questions received. Thank you

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  2. Tax Partners

    There is no doubt that HMRC services are slowing improving - e-mail communications with taxpayers and agents, and faster VAT registration processes are two instances. However, HMRC must seriously do something about reducing the waiting time on the phone - it's a clear waste of time for the agents to be on the phone for 20+ minutes!!!

    Alternatively trust the agents and give them more access to VIEW the tax payers' records

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  3. Paul Shearon

    My question as to the cost is quite serious? Can someone from HMRC tell me how much th eprojected expense is?

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  4. Mike Fleming

    This is the next step along the line of giving each and every taxpayer access to their own dedicated "file" on HMRC record system so that they can "manage " their own tax account the spin is so that each tax payer is in control of his or hers tax affairs. The truth is that this is part of a well thought out plan to encourage compliance through fear by virtue of third party reporting direct into your tax account. This is the system used with huge success in Denmark and the system HMRC would seem to be keen to introduce in the UK. Anyone interested should look at how the Danish system works and the increase in compliance levels resulting from the introduction of this change. I personally don't have an issue with this new approach but I do think that we should be told the truth as to why the changes are being introduced instead of being fed this load of transparent bull. Never mind the cost this whole process of change by stealth and half truth offends me.

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  5. Mike Fleming

    Re my earlier comments, if you are interested then read :-
    http://www.nber.org/papers/w15769

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  6. Mike Fleming

    I left two comments on this issue yesterday and neither is recorded here. Are they still under "adjudication" or has HMRC decided not to publish them?

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