Personal tax statements being sent to 24 million from October 2014
16 April 2014
As announced in Budget 2012, HMRC will be sending out personal tax statements setting out how much tax individuals have paid in the previous year and how it contributed to public expenditure.
Chancellor of the Exchequer George Osborne announced that from October 2014 around 24 million people will receive a personal tax statement from HMRC setting out how much tax they paid in the previous year and how it contributed to public expenditure.
This is 4 million more people than previously announced at Budget 2012. The additional people are PAYE taxpayers who have had recent contact from HMRC setting out their tax calculation for an earlier tax year. These might be people with more complicated or changing circumstances such as a new job.
The statements are part of the government’s wider drive to make the tax system simple, easier to understand and more transparent.
You can access examples of what the new tax statements will look like.
The Chancellor said:
“These tax statements represent a huge boost for tax transparency, showing people very clearly how much tax they pay and giving them a better understanding of where their money is spent.
At Budget 2012 the government announced that around 20 million taxpayers would from October 2014 receive a tax statement detailing how their 2013/14 tax year income tax and National Insurance contributions have been calculated, their average tax rates and how this contributed to public expenditure.
These 20 million taxpayers comprised the 8 million taxpayers who complete self-assessment returns online and will receive their tax statement online, and the 16 million PAYE taxpayers who received a tax coding notice from HMRC for 2013 to 2014.
There are 29.9 million income taxpayers in the UK. Any taxpayer who does not receive a tax statement can use HMRC’s tax calculator to estimate their tax bill and see how it contributes to public spending. This app can be downloaded free of charge from the Apple app store or Google Play by searching HMRC tax calculator.”