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Posted Fri, 29 Jul 2022 08:05:38 GMT by Jit A
Hi, I am a basic rate tax-payer - I have foreign saving interest worth 800£ which is less than the £1000 limit, I am not registered for self-assessment. There is no other income apart from foreign savings interest, Do I need to Register for self-assessment and report this income under the foreign page and pay 0 tax ? or I do not need to do anything? Checked the guidance on tax on foreign income - doesn't make it clear what to do in case 0£ tax is due because of allowances. Please advice.
Posted Mon, 01 Aug 2022 13:06:13 GMT by HMRC Admin 17

You do not need to fill in a tax return if ALL following apply:

your only foreign income is dividends

your total dividends - including UK dividends - are less than the £2,000 dividend allowance

you have no other income to report.    

 As this does not apply to you a tax reurn is still reguired.

Thank you.
Posted Mon, 01 Aug 2022 13:41:29 GMT by Jit A
So does that mean I need to register and report but no tax to pay - or can I phone up HMRC and update them about saving interest less than 1000£?
Posted Wed, 03 Aug 2022 15:26:55 GMT by HMRC Admin 25
Hi Jit A, 
You need to register and report it. 
Thank you 

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