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Posted Sun, 13 Nov 2022 15:21:49 GMT by jami
Hi there I'm an UK tax resident and have no other income but savings interest from UK banks (£5,000) and foreign banks (£8,000) which is still less than the total of Personal Allowance (£12,570), Starting Rate Allowance (£5,000) and Personal Savings Allowance (£1,000). I don't need to pay any tax. However, as I have foreign income (savings interest), I still need to report to HMRC via self-assessment. Am I correct? Thanks.
Posted Wed, 16 Nov 2022 15:53:07 GMT by HMRC Admin 2

Yes, due to the amount of foreign income received, a tax return is required.

Thank you.

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