SA required?

Hello, These forums are a great way to get information - nice work. My father has a decent pension (NHS) and quite a bit of savings (although half of this is within an ISA). He is worried that with interest rates higher last year he may need to do his first ever SA return. I notice, however, that his tax code is K235 (The number may not be accurate, but it's a K). On this basis can he assume that he is paying the tax due on his savings via his tax code? Is there are threshold that will mean a K code can't be used? ie this would require a return? Really appreciate the help and advice with this. Thanks. Simon

Hi

To complete a Self Assessment the interest from savings will need to be more than £10,000 Check if you need to send a Self Assessment tax return.
The K code means that the deductions in the code are more than the allowances.
Your father would need to contact HMRC to check the interest is included in the code Income Tax: general enquiries
or he can check online if he has an online account Personal tax account: sign in or set up

Thank you

Do I need to file a self assesment for old years? Below are my answer to the queries for that Assesment year. Did you work for yourself in that year? No Did you work as an ‘off-payroll worker’? No Did you get a pension? No What was your total income for the year? Between £50,000 and £150,000 Did you claim Child Benefit? No, I do not have children or did not claim Did any of your income come from UK property or land? No Did you get more than £10,000 from dividends or savings and investments? No Do you need to pay tax on any of the following? None of these Do you need to pay any Capital Gains Tax? No Did you hold a position that affects how you’re taxed? No