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Accountants in Medway - Sinden Thackeray Partnership

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New Tax Dashboard

Newsletter issue - May 2012.

If you have recently logged-on to the HMRC online service for PAYE for employers, or corporation tax, you will have seen a request to sign-up for the tax dashboard. This is a new facility that will provide a single view of all your business tax liabilities arising from corporation tax or income tax (for company or individual), VAT and PAYE.

The tax dashboard will show the following for each tax:

  • Amount owed
  • Repayments due from HMRC
  • Payments already made
  • Interest due on any late payments
  • Penalties incurred, and
  • Direct debit payment plans

You will not be able to reallocate payments between taxes, or even between periods for the same tax. The dashboard is merely a viewing facility.

Before you can use the tax dashboard you must be registered with the HMRC online service for corporation tax or self-assessment. You may already be registered and have separate online logins for the PAYE, VAT and corporation tax or self-assessment online services. If this is the case you need to move all online services to one login, in order to see all taxes on your tax dashboard. There are instructions on the HMRC page for the tax dashboard on how to move online services to one login.

Tax agents cannot use the tax dashboard to view their clients' tax liabilities, which would be really useful. This facility may be provided in the future, but we are not holding our breath!

 


Christopher Kember FMAAT is licensed and regulated by AAT under licence number 7213. AAT is recognised by HM Treasury to supervise compliance with the Money Laundering Regulations and Sinden Thackeray Partnership is supervised by AAT in this respect.