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TonyTax, Tax Consultant
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Tax Ref 663/ZH310 nat. no. ZY613944B Tax is deducted from

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Tax Ref 663/ZH310
nat. no. ZY613944B
Tax is deducted from my pensions by H.C.C. I have some savings in Isa's, On line saver account & Royal Mail shares.
Reading Tax Coding Notice 2014 - 15 it implies that if I don't have an income obove £27,000 I do not need to complete a tax return.
Can you please confirm my interpretation is correct.
Many thanks for a hasty reply.
Carol E. Richards

Most people don't need to complete an annual tax return. Take a look here for information on when you might need to complete one.

The £27,000 figure is the income level point at which you start to lose the extra personal allowance you get if you were born before 6 April 1948 or 6 April 1938 or 6 April 1935 (married couple's allowance). There is information here on age allowances and how they work. Take a look here for the allowance levels. So, assuming that all the income you do have which is taxable has been taxed at source or is completely covered or partially covered by your personal allowance and the total is £27,000 or less, then you won't need to complete an annual tax return.

If your personal allowance is absorbed completely by your pension income, then any bank interest you receive other then through ISA accounts or other tax exempt accounts should have basic rate tax deducted at source. Dividends from shares you own carry a 10% tax credit which is deemed to cover your basic rate tax liability.

You can ask the tax office at the end of the tax year to review your tax postion without necessarily having to complete a tax return.

I hope this helps but let me know if you have any further questions.
Customer: replied 3 years ago.

thanks Tony, but does the tax year end at the end of October or March next year?

The tax year runs from 6 April to the following 5 April so the current tax year, 2014/15, started on 6 April 2014 and ends on 5 April 2015.
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