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Only income is savings interest, no salary, pension etc

Posted Sun, 30 Jul 2023 06:07:12 GMT by
The only income I have is interest from my savings, am I right in assuming if it is less than my personal allowance of £12570, I would not be liable to pay tax on any of it in the tax year? Thanks
HMRC Admin 32 Response
Posted Tue, 08 Aug 2023 10:35:36 GMT by HMRC Admin 32 Response
Hi,

That is correct. If the Interest is more than £10,000 you will need to register for Self Assessment.

Thank you.

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