Feel more ‘on it’ with your money by using the HMRC app and free resources

When you need to get on top of your money, actions of all sizes can make a real difference. Even doing something small usually makes you feel better than doing nothing. 

The theme for Talk Money Week this year is ‘it all counts’, any simple action to sort out your money is a great place to start.

Downloading the free HMRC appOpens in a new window and using HMRC’s Tax ConfidentOpens in a new window website are two small ways to feel in more control of your money and tax but they can have a big impact.

A good way to take action and start feeling more in control of your finances is to look for the easy wins. This Talk Money Week, taking a few minutes to download the free HMRC app is a convenient way to help you stay on top of simple money and tax tasksOpens in a new window, all in one place. Here are a few examples of how the HMRC app could help you.  

You might not have realised that when you download the HMRC app, you can quickly see what you’re getting paid before the money goes into your bank accountOpens in a new window That way, you can make sure it’s right – and plan your budget for the month ahead. 

When you’ve got a lot of plates spinning, finding ways to stay on top of financial tasks is particularly important. If you get Child Benefit you can use the HMRC app to check how much you’ll get at any time - maybe when the little ones have finally gone to bed. You can also quickly download proof of entitlement if you need it and update your address if you move home. Those are just a few ways downloading the HMRC app can make family finances a little easier to manage. 

The app might be helpful if you earn more than £60,000 and and might need to pay some of it back.

If you need to remind yourself of your National Insurance number, you can find it and save it to your phone wallet anytime on the HMRC appOpens in a new window So, it's always on hand when you need it.  

You can also use the app to change your name or change your address, so your details are up to date. 

You can see your State Pension forecast in a few taps. It’s also simple to check your tax code on the app – one quick thing we can all do to make sure we’re paying the right amount of tax. 

Keeping on top of your tax can give you peace of mind that your finances are in order and help you avoid any surprises. Most people have money-related tasks involving HMRC on their to-do list, and the HMRC appOpens in a new window can make them easier to complete. 

You can use the app to check how much Self Assessment tax you owe, set a reminder and make payments when they’re due. See at a glance your income from work in the previous five years and how much Income Tax you should pay. You can also access your Unique Taxpayer Reference (UTR) for Self Assessment and save it to your phone for the next time you need it. Plus, you can check if you’re owed a tax refund and claim it through the HMRC app, and if your income is changing there’s a handy tax calculator to estimate your take-home pay.  

Keeping on top of your tax can give you peace of mind that your finances are in order and help you avoid any surprises.

Tax can sometimes feel complicated, but taking a little time to learn how it works can help you feel more confident and ‘on it’. 

Tax Confident is a website from HMRC with information on the tax basics – including what the tax code on your payslip actually means and how it affects your take-home pay. 

It’s got helpful videos and examples on a range of topics, whether that’s starting your first job, setting up a business, or thinking about retirement. No judgement, no jargon, just the essentials you need to know. Why not visit Tax ConfidentOpens in a new window to get to grips with the basics this Talk Money Week and give your confidence a boost? 

As always during Talk Money Week, we’re encouraging everybody to start conversations about money. Why not mention some of the simple tools above to friends and family to help them stay on top of their money and tax? This could be a simple conversation starter to also help you open up about money and tax in general – something we know is positive for overall financial wellbeing.   

Research shows that people who talk about money make better financial decisions. Talking about money to children helps form good money habits for adulthood. 

Building money conversations into our everyday lives also helps build financial confidence and resilience   

Which of these conversations might help you feel less anxious and more in control?   

• Speaking to a lender before repayments become a problem.  

• Checking if you’re entitled to benefits you haven’t claimed.  

• Opening up about a money worry to someone you trust .  

Whatever money topic you choose, talking about your finances is an action that could make a big difference.