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TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15977
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I am 59 years old in a part time job earn £200 a month so

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I am 59 years old in a part time job earn £200 a month so don't pay income tax but do have shares and savings of over £10,000 should I be filling in a self assessment form ?


Take a look under the heading "You have income from savings, investment or property" here for information on the criteria which determines the necessity or otherwise to complete an annual tax return.

You will see that you only need to complete a tax return if the income produced by your savings and shares and other investments is £10,000 or more annually or you have an untaxed income of £2,500 or more annually from those savings and investments.

The £10,000 figure refers to income not the value of the savings and investments themselves. If your total annual income before tax is £10,000 or less, then you will have no tax to pay at all and will not need to complete a tax return.

I hope this helps but let me know if you have any further questions.

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