Small Income and Self Assessment

Small Income and Self Assessment

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I have a new client who is retired and has been returning Self Assessments.

He jointly owned a house with his wife which they bought in March 2008 as their PPR until March 2012 when they moved out.

They let it from Mach 2012 until it was sold in September 2014.

I don't believe any CGT is payable

He returned the letting income and will do so in 2014/15.

His wife has not been making Self Assessment returns and were she to do so her income would only be £4,500

Even with a full year's rent she would be below the persona allowance.

Should she make a Self Assessment?

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By Tim Vane
04th Dec 2015 11:52

No. See s7 TMA 1970. No liability to tax, no requirement to notify.

Of course, the husband will have indicated on his return that the property is jointly owned so HMRC may work it out for themselves and send her a return in due course, and if they do she will have to submit it. It's very unlikely though.

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