Completion of SA return - savings income £10K

[Nottle38]

My tax affairs are very simple - full time employee on a £25K salary - but I do have a significant amount of investment income in various bank and building society accounts. It says on the HMRC website that "if you don't already complete a tax return, you'll need to do so if you receive....income from savings and investments of £10K or more". I'm getting close to that figure including my ISA accounts, but can't decide if ISA interest can be disregarded when arriving at the £10K threshold. I don't want to get things wrong, but neither do I want to register for SA unless or until I have to.

I would be grateful for any advice.

Regards

[AvocadoK]

There is no need to include interest on ISAs in your calculations.

However, you do need to register for SA if any of your interest is received without basic rate tax being deducted, even if it is less than £10,000. This is because you always need to notify HMRC if you have a liability to tax, regardless of size. You will have a liability if you have received interest without tax being taken off at source.

AK