Spencer

I would like to add something here which I forgot about and which I hope HMRC Admin can answer. In addition to the information I included in my original question, I do have an investment in the Isle of Man, which I forgot to mention. In the 2023-2024 tax year I made a 6% loss on this investment when I cashed it in so there was no capital gains. This year, however, I will make a 6% gain on a new investment in the Isle of Man using the same capital cash. Taking into account that I am a non UK tax resident do I need to submit a self assessment for 2023-2024 or next year for 2024-25 based on these 'foreign earnings'. The quiz on whether I need to submit a self assessment now says I will need to submit one due to the 'foreign earnings' component but I am a foreign tax resident for the UK and I think the quiz applies to UK tax residents. I hope this is clear and thanks for any responses.

To respond to the second reply for which I give thanks. I am resident in a country that does not tax global assets and only taxes imported earnings although does have a double taxation agreement with the UK.

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Hi, I am a UK citizen but a non-resident of UK for 20 years. My total income comes totally from the UK as a mixture of state and private pensions (total about 22000 pounds per year in 2003/2004) and bank interest (total about 5000 pounds for 2003/2004 - this is due to a high interest account and the prevailing high interest rates on bank accounts generally so I did not have anywhere near that much in previous years). The bank interest is not taxed at source - I receive it gross. No overseas income and no other UK income. The state pension part is, I assume, not taxed because I am an overseas resident but all the tax for my pensions is taken at source. I am registered for HMRC self assessment but I was told 10 years ago that I do not need to self assess any more and my account currently says I do not need to self assess for 2023/2024 also. I have answered the questions on the HMRC quiz about if I need to send in a self assessment and the answers led to a negative - I don't need to send one in (the only relevant question I can see about bank interest is the one about whether I receive more than 10000 pounds in investments, bank interest etc, which I don't). I recently phoned the HMRC helpline and they told me something about one criteria for the need to self assess is if I have more than 2500 pounds in untaxed income. I have not read that anywhere and is not in the self assessment quiz, but it may mean that I need to self assess for the 2003/2004 tax year due to my 5000 pounds bank interest. My question is this - do I need to self assess for the 2003/2004 tax year?