My total income for this tax year is £5600 from share dividends and £6000 from rental income, i.e., £11600 should I be filling out a tax return or some such. Or am I one of the people who is completely removed from the tax system? I have no other income and I am confused. Should I be making a disclosure?
1 Answer
The gov.uk site includes a brief test to check if you need to send a self-assessment tax return.
According to the information you have provided, you do need to send a return.
This issue appears to be that you have over GBP2,500 of rental income from a property you own.
Your gross income is only GBP100 over the current annual income tax allowance, so it is unlikely you will have to pay more than a few quid.
ve kind of dropped out for the past 3 years so yes thats the income I have savings i`m 55 and always been paye up till then thanks.