I am currently using FTax and whilst it is cheap , I do feel that it is a bit basic.
Does anyone know of any tax software that will automatically calculate the tax code?
I would not imaine its a difficult task for a developer to do to download the relevant info from the account on the HMRC website and on the basis of historic returns adjust the tax code accordingly (I've obviously simplified things here!)
It would be good to have automatically generated reports ststing "your tax charge is x. You have paid y, you must make the following payments in Jan/Jun, your tax code has been adjusted to z"
All responses greatly appreciated!
Replies (11)
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None that I know of .....
Of course the system would then also have to have prior knowledge of whether HMRC have any liabilities sat on the accounts from prior years
You must use the code the revenue give you
You are not allowed to make up your own code. If the employee does not like the code they have to sort it out with HMRC who will then separately advise the employer.
I trust you are an employer who has not read the guidance and not an 'accountant'.
Ring HMRC
Software?
Use the HMRC CD or booklets - they tell you what to do... you should never assume - makes an [***] our of u and me!
As others have said - you can only use a code they have given you, or in accordance with P45/P46 declaration.
wow
Do you understand anything at all about how the PAYE system works?
The employer can do absolutely NOTHING about the tax code. Let's repeat that. The employer can do absolutely nothing about the tax code. It is nothing whatever to do with the employer whether the "correct" amount of tax is being deducted at source so far as the affairs of the employee are concerned.
The taxpayer can contact HMRC with information about their circumstances to request tax code changes.
This is truly scary stuff. Are you advsing any companies / employers?
are you actually talking about "tax code" at all?
Like other posters above, I very much hope not.
Instead, do you mean you want a develper to be able to access HMRC webiste via an auto portal, download the relevant tax history, and use this to generate an adjustment to the payments on account of tax in January and July?
If so, dream on. There are just a few issues surrounding security of access of other computer systmes to HMRC portals, funnily enough.
But basically, do you know what you mean at all !?
I don't advise on this you will be pleased to hear!
Personal tax is not my particular area of expertise
It was just a thought... as I was doing my personal tax return
Thanks for your responses
and another thing
I should probably have put "indicative tax code" - I'm aware that it is HMRC who issue it
But please, don't crucify me for asking a question on a subject I don't know a huge amount about
Not something I advise on...
That's not what your website says. unless you get someone else to do that side of it all for you.
Precisely - or will be.
You might also see the note stating that we are not trading yet on the home page.
Like I said - it was just a thought as I was doing my own tax return
OP has changed his status
When this post was originally made the OP was not anonymous.
Obviously changed when they realised how silly the post was.
The website says all services will be provided that you would expect from an accountant including personal tax etc.