HM Revenue & Customs (HMRC) has disclosed that four in ten young people, or 40% of Generation Z, regret not learning more about tax fundamentals at a younger age. In response, HMRC is urging summer jobseekers to download its app for essential tax and money management information.
Summer Job Surge and App Usage
As exams conclude and young people begin searching for seasonal work, the HMRC app provides tools to simplify tax affairs. Last year, an average of 3.4 million individuals aged 18 to 24 worked during their summer break, according to HMRC data.
The app offers instant access to job-related details such as National Insurance numbers, tax codes, employment history, and Pay As You Earn (PAYE) information. Users can also preview their pay before it reaches their bank account, aiding budgeting. Among young users, the app boasts a 90% satisfaction rate.
Key Features for Young Jobseekers
Myrtle Lloyd, HMRC’s Chief Customer Officer, stated: “Downloading the HMRC app gives young people an advantage in understanding their tax affairs with instant access to information that can help demystify money matters. Young people looking for their first job may not even be aware of what tax information they need. Having the HMRC app to hand will make it a lot easier.”
In the last financial year, over 627,000 individuals aged 16 to 25 used the HMRC app for the first time. Since the digital wallet service launched in 2023, more than 1.2 million people have saved their National Insurance number to their device.
Survey Insights on Gen Z Habits
HMRC’s survey on customers’ digital habits, focusing on those aged 18 to 24 who used the app, revealed the following:
- 33% used it for job-related information, including checking their tax code, employment history, and income.
- 26% used it to save their National Insurance number to their digital wallet.
- 20% are most likely to use the app when starting a new job or changing jobs.
Gen Z encompasses individuals born between 1997 and 2012. The HMRC app can be downloaded from GOV.UK, the App Store, or Google Play.
