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Posted Mon, 26 Dec 2022 00:26:29 GMT by Jim1024
Hi I hope you are doing well. I am a retiree and have two income sources - Pensions and Bank Interest \ Bond Interest Pensions income due to double taxation treaty is only required to be taxable in the country where I immigrated from. In my understanding, my pension income is not necessary to be declared in the tax return. The total of my annual Bank Interest & Bond Interest = GBP 20000 can I add up the following allowance to set off the above taxable income ? Personal Allowance - 12570 Starting Rate of Saving - 5000 Personal Saving Allowance - 1000 Total is 18570. So, if my above calculation is correct, My income tax should be GBP 20000 - 18750 = 1250. Tax will be 1250 x 20% = 250. Am I correct ? Thx for your attention
Posted Thu, 29 Dec 2022 13:21:56 GMT by
Hi Jim1024,

We are unable to provide financial advice on this forum.  

For more personal advice, please call our Self Assessment helpline:

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Thank you. 


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