Will I need to fill in a tax return

mmmkay777

Hi, thanks in advance.
I'm about to inherit quite a bit of money, I'm going to split it between pension, investments through Hargreave Lansdown (Investment ISA, and several funds), cash Isa's and potentially savings accounts. I have a job and am PAYE. I've never filled in a tax return as it hasn't been necessary. Will I need to at the end of this financial year? I presume the interest earnt will have to be declared??

Thankyou

AlwaysLearnin

Any gains in ISA's and pensions are sheltered from tax, so no need to worry about them. Savings accounts are taxed @ 20% by default, so only an issue if your income is in to the higher tax threshold. Capital gains and dividends on investments outside of pensions and ISA's would need tracking

http://www.hmrc.gov.uk/taxon/uk.htm