For someone who is PAYE or unemployed, but has some income streams, when is an SATR required in the UK?
typical sources of income might include:
- bank interest
- dividends on shares you hold as an investment outside an ISA
- rental income from a property you own part/all of
- renting a room in your own residence
- freelance work within the personal income tax allowance
I know some of these (maybe all?) have tax free allowances, but is that the same as saying they do not have to be declared on an SATR if you are within those allowances?
So what levels of income in different areas could someone earn without having to do an SATR at all?
It would be nice to improve on this, exactly how much you can earn from different sources before a SATR is required.