Hi, I would like to check if my wife needs to submit a self assessment or not.
During 2022/2023, my wife was unemployed and had the following income / profit:
1) $1102.04 (USD) dividend and interest - generated by US stocks and cash
2) £1999.57 (GBP) - Profit from trading CFD forex pairs.
When I check the link "https://www.gov.uk/check-if-you-need-tax-return",
it said that "You do not need to send a Self Assessment tax return".
However, for the following statements on the checking page:
"You must tell HMRC if you had:
more than £2,000 income from share dividends
between £1,000 and £2,500 in any other untaxed income, such as commission or money from renting out a property"
Does she need to submit a self assessment?
What exactly will she need to do?
My wife and I both did Forex CFD trading during the fiscal year 22/23, but both of us incurred a loss.
For the fiscal year 22/23, I was employed but my wife was unemployed for the whole period.
1) Do I need to do the self accessment (for employed + CFD loss)?
2) Does my wife need to do the self accessment (for unemployed + CFD loss)?
I have done the checks via the link below and it said that I didn't have to do the self accessment.
However, I am afraid if I misunderstood some of the questions. Hope someone could help me to confirm. Thanks.