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Posted Mon, 24 Apr 2023 09:58:14 GMT by Austin Roddy
I have a question regarding an offshore bond gain of £700. There is no tax to pay because it is covered by the personal savings allowance. The individual's other income is well within the basic rate threshold < 35K. Do they need to complete self-assessment?
Posted Fri, 28 Apr 2023 11:23:23 GMT by HMRC Admin 32

If the sum of your UK dividends and foreign dividends (converted to pounds sterling) is below the dividend allowance for the year in question (for 2023 to 2023 it is £2000.00) then they do not meet the criteria for Self Assessment.

To ensure that you do not need to complete a Self Assessment Tax Return, please take a look at the tax return tool at:

Check if you need to send a Self Assessment tax return

Thank you.

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