ersoyci
Joined: 8/15/2024
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Tax-Free Allowances for Savings, Dividends and Rent
Hello. I am a UK resident, but non-domicile. Can you please clarify the tax-free allowance for following income: - Savings interest from UK bank accounts (at higher rate it says £500) - Dividend income (UK sourced) (24/25 allowance is £500) - Rental income from overseas (should be tax-free considering not being transferred to the UK, please correct if wrong) If I have more than £500 from each savings and dividend income (say £1000 and £750), are the total (£1,750) going to be count towards my Personal Allowance (£12570) and do I need to submit self-assessment for 24/25 since I would be earning above threshold of any? Appreciate any help, a bit confused.