Annual Tax Summaries
An overview of the new annual tax summaries has been published. By way of reminder, personalised tax summaries are due to be sent to around 24 million UK taxpayers from October 2014 onwards.
The 2013–14 personal summary will advise someone’s:
- taxable income including any taxable benefits or pensions
- the tax rates used to calculate their tax
- how much tax and National Insurance they’ve paid or will pay
- how tax and National Insurance contributions are spent
- how much National Insurance an employer has paid on their behalf