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Daily Record
6 days ago
- Business
- Daily Record
New online Pay As You Earn service helps people take control of tax affairs
The service will make it simpler and easier to check and update their income, allowances, reliefs and expenses. Lanarkshire workers can take control of their tax affairs as the government announced a new online Pay As You Earn (PAYE) service as HM Revenue and Customs (HMRC) sets out more than 50 measures to transform the UK's tax and customs system. The service for all PAYE taxpayers will make it simpler and easier to check and update their income, allowances, reliefs and expenses, and will be available via their Personal Tax Account or through the HMRC app. This service forms part of HMRC's Transformation Roadmap that sets out ambitious plans to become a digital first organisation by 2030, with 90 per cent of customer interactions taking place digitally. The roadmap sets out more than 50 IT projects, services and measures that, once delivered, will transform the UK's tax and customs systems, simplifying processes and making it easier to pay the tax that funds public services and deliver the government's Plan for Change. The plans to modernise the tax and customs system, introduce new AI technologies and work with third parties and intermediaries will make it easier for taxpayers, businesses and intermediaries to interact with HMRC. The digital first approach will see HMRC automating tax wherever possible and offering new digital self-serve options across a number of tax regimes. Alongside the new PAYE service, HMRC will save £50 million a year by moving customer letters and reminders to a digital first approach, reducing the reliance on paper correspondence, by the 2028 to 2029 tax year. Paper post provision will remain for critical correspondence and for the digitally excluded. Increasing the use and investment in AI will enable customers to meet their tax obligations and allow HMRC to monitor the tax system in near real time. HMRC plans to introduce AI in work areas including: HMRC advisers and caseworkers: using AI capability to automate call summaries and the use of internal GenAI Chat Assistants to support them in their work. Digital assistants: developing new AI-powered features to help customers easily navigate HMRC services and improve the ability to update HMRC's content and guidance on Compliance: delivering an automatic document identifier system for HMRC caseworkers to identify fraudulent documents during compliance activities by using a biometric likeness-liveness check. James Murray MP, Exchequer Secretary to the Treasury, said: "We are going further and faster to make HMRC fit for the 21st century, including delivering a simpler and easier system for all PAYE workers. "By 2030, taxpayers can expect a modern and innovative HMRC with cutting-edge AI, industry-leading customer service practices, and a laser focus on delivering taxpayer value for money by ensuring everyone pays their fair share."
Daily Record
7 days ago
- Business
- Daily Record
New HMRC service announced for workers to take control of their tax
HMRC has also set out more than 50 measures to transform the UK's tax and customs system. Income tax rises for Scots in April - how the changes affect you Workers are set to take control of their tax affairs after the UK Government announced a new online Pay As You Earn (PAYE) service for around 35 million UK taxpayers as HM Revenue and Customs (HMRC) sets out more than 50 measures to transform the UK's tax and customs system. The new online service for all PAYE taxpayers will make it simpler and easier to check and update their income, allowances, reliefs and expenses, and will be available via their Personal Tax Account on or on the official HMRC app. This service forms part of HMRC's Transformation Roadmap, which launched earlier this week. It sets out ambitious plans to become a digital first organisation by 2030, with 90 per cent of customer interactions taking place digitally. The roadmap sets out more than 50 IT projects, services and measures that, once delivered, will transform the UK's tax and customs systems, simplifying processes and making it easier to pay the tax that funds public services and deliver the UK Government's Plan for Change. The plans to modernise the tax and customs system, introduce new AI technologies and work with third parties and intermediaries will make it easier for taxpayers, businesses and intermediaries to interact with HMRC. The digital first approach will see HMRC automating tax wherever possible and offering new digital self-serve options across a number of tax regimes. Alongside the new PAYE service, HMRC will save £50 million a year - the equivalent of almost 1,500 full time nurses - by moving customer letters and reminders to a digital first approach, reducing the reliance on paper correspondence, by the 2028 to 2029 tax year. Paper post provision will remain for critical correspondence and for the digitally excluded. HMRC said increasing the use and investment in AI will enable customers to meet their tax obligations and allow the tax body to monitor the system in near real time. HMRC plans to introduce AI in work areas HMRC advisers and caseworkers: using AI capability to automate call summaries and the use of internal GenAI Chat Assistants to support them in their work. Digital assistants: developing new AI-powered features to help customers easily navigate HMRC services and improve the ability to update HMRC's content and guidance on Compliance: delivering an automatic document identifier system for HMRC caseworkers to identify fraudulent documents during compliance activities by using a biometric likeness-liveness check. HMRC said it will work with developers to create a set of principles which will set out HMRC's expectations of how third parties use AI in software where it interacts with the department and the tax administration system. These principles will give developers the confidence to introduce AI functionality into their products in the UK and minimise the risk of those products introducing error or non-compliance. James Murray MP, Exchequer Secretary to the Treasury, said: 'We are going further and faster to make HMRC fit for the 21st century, including delivering a simpler and easier system for all PAYE workers. 'By 2030, taxpayers can expect a modern and innovative HMRC with cutting-edge AI, industry-leading customer service practices, and a laser focus on delivering taxpayer value for money by ensuring everyone pays their fair share.' Mr Murray's key priorities for the department are: improve day-to-day performance and the customer experience reform and modernise the tax and customs system close the tax gap As announced at the Spending Review 2025, £1.7 billion will be provided to HMRC over four years to fund an additional 5,500 compliance and 2,400 debt management staff. HMRC said this will ensure more of the tax owed is paid, to fund public services. HMRC is focusing on tackling wealthy offshore tax non-compliance, with an additional 400 people set to work on wealthy offshore tax risks. This includes experts in private sector wealth management, who will help find and tackle non-compliance more effectively and train HMRC compliance staff. JP Marks, HMRC's Chief Executive and First Permanent Secretary, said: 'The Government's ambition is for a simpler tax and customs system and this roadmap sets out how HMRC will deliver a first-class experience that feels different to their customers. 'By 2030, UK citizens will experience a tax administration system that is more automated, more focused on self-service, and better set up to get things right first time so they can fulfil their tax obligations.' The Transformation Roadmap sets out timescales for delivery and HMRC is committed to reporting on progress. Work is underway to deliver some of the measures set out in the roadmap this tax year, including: extending the rollout of the SMS confirmation service to Self Assessment appeals, complaint cases and some PAYE services. improving Self Assessment registration service and streamlining the exit process for those customers who no longer need to file a Self Assessment tax return. expanding the rollout of the voice biometrics pilot to make customer verification easier when calling HMRC's helplines. a new service to give employed parents, who are newly liable for the High Income Child Benefit Charge, the choice to pay it directly through their tax code without needing to register for Self Assessment. launching an enhanced reward scheme for informants, targeting information on serious non‑compliance in large corporates, wealthy individuals, offshore and avoidance schemes. The new scheme will reward informants with compensation linked to a percentage of any tax taken. Further measures and projects to be delivered as part of the roadmap include: digitalising the Inheritance Tax service to provide a modern, easy-to-use system, that makes submitting returns and paying tax simpler and quicker. launching a new service to allow agents to digitally submit information which may impact their client's tax code. delivering a Digital Disclosure Service to allow customers and intermediaries to correct mistakes, pay liabilities and penalties for all taxes and duties. introducing an electronic trade documentation pilot to see how it could improve customs operations. progressing the Verifiable Credentials pilot with US Customs and Border Protection to test the use of new internationally interoperable digital credentials and identity standards. HMRC wants to incentivise taxpayers to pay their tax on time by simplifying and strengthening penalties. In the 2023 to 2024 tax year, HMRC collected 94.7 per cent of the total tax due. Those who meet their obligations and pay their tax on time should not be disadvantaged by the minority who don't follow the rules. HMRC will update on modernising behavioural penalties later this year.
Daily Record
30-06-2025
- Business
- Daily Record
New EDF tracker tariff cuts daily energy standing charges by £100
Low energy usage customers can also benefit from the savings under the fixed-term tariff. EDF is guaranteeing consistent savings to customers with its relaunched tracker tariff, Simply Tracker Extra Sep26, which discounts annual standing charges by £100. The fixed-term tracker tariff tracks Standard Variable prices and will undercut Ofgem's price cap by £100. Ahead of the new July price cap level coming into effect this week (July 1), EDF's tracker tariff guarantees savings of £50 per fuel on the price cap, with the discount applied through standing charges. Standing charges are fixed daily charges which cover the fixed cost of supplying electricity and gas to homes. By discounting standing charges instead of unit rates, all EDF customers who sign up to EDF's Simply Tracker Extra tariff will benefit from the same financial savings, even if they are low energy consumers. EDF has achieved the discount thanks to how it buys energy in advance, taking the savings made on energy costs and applying them to standing charges to ensure everyone can benefit. Based on the July 1 price cap level, the new tariff offers an annual average bill cost of £1,619 for a dual fuel customer paying by Direct Debit. Commenting on the tariff relaunch, Rich Hughes, Director of Retail at EDF, said: 'Although the price cap is dropping for July, our current predictions anticipate prices will rise again from July through to April 2026. 'Our price cap prediction for October has already increased by a further £63 since June 3. Given the continued volatility we're seeing in wholesale prices, we strongly advise customers to consider a fixed or tracker tariff. 'Our tracker tariff guarantees customers will always save £100 against the price cap, regardless of the changes to the energy price cap over the next year.' He added: 'By applying the discount through standing charges, we ensure that customers who are already working to improve their energy efficiency and reduce their carbon footprint still benefit from equal cost savings.' With only 35 per cent of customers currently on fixed tariffs, EDF's new tracker tariff provides an opportunity for widespread savings. EDF also offers a 12-month fixed tariff, Simply Fixed Jul26v12, which allows new and existing customers to lock unit rates and standing charges for one year at an average bill cost of £1,681 for a dual fuel customer paying by direct debit. To sign up to EDF Simply Tracker Extra Sep26, existing customers can do so through MyAccount online or the EDF app, or new customers can sign up on the website. The tariff is available to new and existing customers on Direct Debit, Cash Cheque and Pay As You Go for a limited time only. For an extra £50 off your energy bill, EDF customers and their friends can also sign up to 'Refer a Friend' via MyAccount online. Emily Seymour, Which? Energy Editor, said: 'Consumers will be relieved that the energy price cap will fall by 7 per cent from 1st July. The change to energy prices means that the summer could be a good time to shop around for fixed deals. As a rule of thumb, we'd recommend looking for deals cheaper than the price cap, not longer than 12 months and without significant exit fees. "If you are on a fixed deal from earlier in the year which leaves you paying more than the July price cap then you might be considering switching early. Check whether your contract has exit fees - if yours has no or low fees it could be worth changing to a new tariff. Some contracts charge large fees to leave early, which would cancel out any savings. "If you've not yet fixed a deal and your variable rates are changing from 1 July, submit a meter reading to ensure you pay the cheaper rates for any energy used after the new price cap takes effect."
