tg8998
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Is a self assessment needed for uk or foreign rental income below £1000 threshold?
Hi, According to this paragraph taken from UK property notes (2022) - Updated 6 April 2024: "Property income allowance All income from property, including any foreign property, up to £1,000, is exempt from tax and does not need to be reported on a tax return." Does this mean if I only receive rental income from a foreign property below £1000 per annum, then a self-assessment is not required? And if so, approximately when was this rule and threshold put into place? Thank you