Julian42

Hi, I have never filed a tax return because all my interest, dividends and capital gains were below the threshold where I needed to pay tax. However, I have now received the "your overseas assets, income or gains" letter and now I am wondering if I should have filed a tax return. My assumption that I did not was based on the fact that I thought "untaxed foreign income" in the application for a self-assessment tax return meant only income beyond personal allowances. However, I am now not sure if this is true for interest, even below the personal allowance for interest (1000 GBP in my case as a basic rate taxpayer). Would you be able to clarify if it is always necessary to file a self assessment tax return when there is interest in a foreign bank account, even if this is below my personal allowance? Thank you!