Understanding HMRC’s newest digital features

HM Revenue & Customs (HMRC) has recently rolled out a set of advanced online tools to help simplify tax affairs for both businesses and individual taxpayers.

Storing your National Insurance number

One of the new features HMRC have introduced is that you can now securely save your National Insurance (NI) number online. This aims to help make the process of managing your taxes more efficient.

This digital feature lets you view your NI confirmation letter via the HMRC web platform or its mobile app. This eliminates waiting for a paper letter, which could take as long as 15 days to reach you by post.

To access this feature, log into your Personal Tax Account (PTA) or the HMRC app. Once signed in, you can:

• Download and save a PDF copy of your NI letter for the future
• Keep a digital copy in your mobile wallet, such as Google Wallet or Apple Wallet, for hassle-free access
• Directly print or share the letter from the platform

Understanding what your tax code means

Another useful feature is the online tool tax code tool, which lets you know what the different elements of your tax code mean.

Your tax code can be located on your pay slips, within ‘Tax Code Notice’ correspondences, or by logging into your Personal Tax Account.

This tool is beneficial for:

• Swiftly checking if your tax code is correct
• Letting you know the meaning of the letters in your tax code
• Providing guidance on steps if your tax code appears wrong
• Breaking down the tax responsibilities for freelancers, residential buy-to-let landlords, or partnerships on a weekly, four-weekly, monthly, and annual basis

Quick UK VAT number verification

The ‘Verify a UK VAT Number’ function is also an extremely useful tool on the HMRC digital services platform. It allows businesses to quickly verify the VAT numbers of other UK businesses, whereas in the past, the verification process often led to long delays.

Streamlined payments for Self-Assessment bills

Paying your Self-Assessment bill is now more straightforward, thanks to HMRC’s new online payment gateway. This is particularly useful for freelancers and small business owners who found the old system difficult to use.

You can make payments directly through HMRC’s secure gateway, eliminating the requirement for third-party payment services.

Effortless VAT certificate downloads

The process of acquiring your VAT certificate has been simplified.

Previously, you had to liaise directly with HMRC to secure your certificate.

Now, firms can download their VAT certificates directly from HMRC’s website for compliance or audit requirements.

Key benefits

The key benefit of these digital services is their ability to speed up tax-related activities; they offer a far quicker alternative to conventional methods.

Security remains a major concern for HMRC, and so these new digital features come with stringent security measures to protect your personal information and financial transactions.

These platforms are accessible around the clock, offering you the flexibility to manage your tax affairs at your convenience, which is especially helpful for enterprises operating outside of regular business hours.

For more information on how these digital tools can help you, please contact us today.