Her Majesty's Revenue & Customs (HMRC) is considering setting up online accounts for individual PAYE taxpayers and introducing annual tax statements as part of efforts to make the UK tax system easier to understand.
An online account similar to a system currently in place in Ireland would allow individuals to view their tax records, claim a range of credits, apply for refunds and declare additional income. The government has also looked to Denmark for inspiration and is considering introducing tax statements in the UK for those who do not self-assess. The statement, which would be separate from the employer-produced P60 - would show people how much tax they have paid, including their overall contribution from income tax and national insurance. It may also include the rates of tax they have paid a...
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