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Posted Wed, 16 Aug 2023 07:37:11 GMT by hazza101
If mine and my wifes gross income on UK rent is £3600 combined our split will be £1800 each. After the property income allowance this brings each of our income to £800 for the 22-23 tax year. Are we required to complete a self assessment tax return? If not what would be required? Also are you required to include interest earned on cash in a bank if under the £500 or £1000 savings interest allowance with the self assessment?
Posted Thu, 17 Aug 2023 14:53:42 GMT by HMRC Admin 25
Hi hazza101,
No, you do not need a tax return for this.
You can tell us either in writing or by telephone.
UK banks tell HMRC about your interest and as no tax return is required for the rental income then your record would be reviewed under PAYE each year and a calculation issued to include both rental income and interest.
Thank you. 
 

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