HMRC online services: A Brief Guide to Managing Your Taxes Online

Tax management has not been this simple in past years. In the past, you had to collect hundreds of pieces of paper to calculate what you owed minus your expenses. We have come to advancements, and thankfully, there’s no need to file taxes manually.

HMRC online services allow every UK individual to manage taxes from their phone or desktop. That means you can do everything from filing tax returns to changing personal details.

So everything is now simpler, whether filing self-assessment or keeping a record of tax obligations, all with the added convenience of digital accessibility.

But we know not everyone is comfortable with or finds time for digital services. We also understand how you can get overwhelmed by the HMRC online portal, so we can make the process easier for you.

Are you also doing your taxes offline or running your small business? Do you need us? We are with you every step of the way.

In this brief guide, you will explore everything about HMRC online services. You will also learn to save time and minimise stress when managing your taxes.
Explore the topics covered in this article by directly clicking on the links in the table of contents below:

• HMRC Digital World: Here’s How It Works
• What Sign Up Information Will You Require?
• Explore the Services and Features
• Can I Pay My Self-Assessment Tax Bill Online?
• Latest Tools and Developments in Online App

HMRC Digital World: Here’s How It Works

HMRC online services seem challenging initially, but when you get a grip on this platform, you will know how effective everything is. The first step to understanding the HMRC online system is to get a government gateway account.
If you own an account for managing benefits like child tax credits, you will still need a business account to look for self-assessment and other business taxes. Also, keeping your business separate is mandatory if you own multiple limited companies.

If you have multiple limited companies, having a government gateway for each can keep your businesses separate. However, you still need a primary account for your Self Assessment.
However, if you haven’t moved your taxes to digital platforms yet, speak to your accountant. You can also register with HMRC through your government gateway ID.

Once you register online with HMRC, you can reduce the number of letters coming to your door. That means no hectic paper documentation but rather an effective and efficient way to get notified of the changes to your account.

What Sign Up Information Will You Require?

• You will need just your National Insurance number or postcode and the following.
• Your UK passport
• Your employment payslip from the last three months or a P60 form for your previous employment.
• Tax credit claim details if you have made any
• Self-assessment tax return details
• Your credit record information (like loans, credit cards and mortgages).
• Your UK Photocard driving licence issued by the DVLA.

HMRC’s tax portal allows users to manage their personal and business accounts easily. It also helps individuals to file self-assessment returns and check tax codes more efficiently. You can also add, change or register your trading address through the portal.

You simply have to log in to your account and look for their business services. You should also tell HMRC if you are no longer self-employed or running your business. The best thing about an online system is that you can do everything online. Whether you want to manage your tax account or register as self-employed, submit your self-assessment and pay the bill.

Explore the Services and Features

HMRC online services allow you to carry out various activities. With your tax account, you can

• Register as a self-employed person.
• Change your details (business and personal)
• Fill in your details, send a view and pay your tax return
• Manage your credits and other benefits
• Find your details, such as your national insurance and UTR number.
• Claim your tax refund.

You can also avail of many other services from the HMRC site and app.

Can I Pay My Self-Assessment Tax Bill Online?

You can pay for your self-assessment via direct bank transfer or setting a direct debit through HMRC’s online portal. However, due to European Union regulations, HMRC recently announced that they will not accept tax payments from personal credit cards. This decision is made to stop merchants from charging extra credit card fees. Due to this rule, HMRC has stopped accepting payments from Credit cards.

Claim Your Tax Refunds

You can find out how to claim your tax refund through HMRC’s online services. However, you might not be able to do so through the platform. If your P60 says you can claim your refund online, you can do so through your government gateway ID.

If you are unsure whether you owe a refund or if you can claim online, then speak to your accountant for the proper consultation.

Technical Assistance and Support

The HMRC online system is very easy to use; however, you may still encounter problems.
If you have lost your login information and cannot access the government gateway ID, you can quickly recover your details from the HMRC website.

If, in any case, your HMRC account becomes lost, then you can contact HMRC by telephone to resolve your issue. You can also speak to your tax accountant, who will organise your payment while you regain access.

The HMRC system is sometimes down, so the app may have technical issues and need ongoing maintenance.

The other way to resolve any issue is through HMRC’s webchat, where you can speak to their advisor through their email and chat service.

Latest Tools and Developments in Online App

Today, the number of users using the HMRC digital platform is growing. The government is also spending a heavy budget on updating the features, making accessing the online system easier for people.

Within the next 18 months, this service is set to extend, including the government gateway.

Manage your Online Tax Security

No doubt, many individuals are transitioning to online tax payment systems. However, what they are afraid of about online systems is cyber security. Being self-employed and running a business for several years means you have a tax management system in place.

It is likely risky to convert your tax management system online due to security concerns. So, for accessing online apps, here are some cyber security do’s and don’ts.

• Select a password of length with numbers, letters, and symbols.
• Inform HMRC about any suspicious calls.
• Use a secure internet connection to access the HMRC online system.
• Also, two-factor authentication should be used to add extra security before login.
• It is mandatory not to share passwords with anyone.
• Also, don’t stay logged in if you use a shared computer.

Wrapping Up

In a nutshell, HMRC’s online service is the best platform for sole traders, partnerships, and limited companies. If used correctly, you can save money and time managing your taxes.
Working online has drawbacks, but HMRC is investing in improving the system and its best to meet the digital tax world.