I would like to know if I need to file a tax return under my current situation:
- I retired and do not have a job.
- I have dividends, bank interest, savings and investments from overseas for less than £10,000 (including capital gains from overseas for less than £6,000) .
- I used the tool on the government page ‘Check if you need to send a Self Assessment tax return’ for checking if I need to send a self assessment tax return. After answering questions, it is shown that I do not need to send a tax return.
Based on the above, may I know that
1. Registration for Self Assessment is a must, mustn’t it?
2. Is it illegal for not submitting tax return even though my overseas income/gains are covered by personal allowances?