Explainations of income on Self Assessment form

musehead

Over the last year i've had a large sum of money in savings accounts earning interest which came from some big gambling wins. I've been sent a SA form for the first time for the 08/09 tax year which I presume is due to the fact that I earnt more than £10k in interest during that year (none of the other listed reasons on the letter apply to me). Would it be wise for me to state in the "any other info" section where the money has come from? Or should I just wait until they ask me?

I'm 90% sure they will want to know at some point because my declared income nowhere near covers the amount of money i've got earning interest.

Mikeyorks

Wait until you're asked .... as they're probably not really interested in the source, more the fact you have it. And they're really checking whether 40% is applicable on the Interest.

'Capital' often increases from inheritance / house sale / downsizing ..... and it's relatively rare the question as to source is asked.