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Pensions, income and tax return

Hello all,
Please could I have the benefit of your advice to settle an argument?
A close friend is now retired.  She has income from an occupational pension payment per month (around £500), full state pension and (joint) income from a rented property on which she pays a mortgage.  I think she should provide a tax return; she thinks not.  What's the answer please?  Many thanks.

Comments

  • Marcon
    Marcon Posts: 12,996 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper Combo Breaker
    Hello all,
    Please could I have the benefit of your advice to settle an argument?
    A close friend is now retired.  She has income from an occupational pension payment per month (around £500), full state pension and (joint) income from a rented property on which she pays a mortgage.  I think she should provide a tax return; she thinks not.  What's the answer please?  Many thanks.
    Depends how much rental income.

    See https://www.gov.uk/self-assessment-tax-returns/who-must-send-a-tax-return

    and work through https://www.gov.uk/check-if-you-need-tax-return
    Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!  
  • Dazed_and_C0nfused
    Dazed_and_C0nfused Posts: 16,281 Forumite
    10,000 Posts Fifth Anniversary Name Dropper
    edited 4 October 2024 pm31 7:30PM
    Hello all,
    Please could I have the benefit of your advice to settle an argument?
    A close friend is now retired.  She has income from an occupational pension payment per month (around £500), full state pension and (joint) income from a rented property on which she pays a mortgage.  I think she should provide a tax return; she thinks not.  What's the answer please?  Many thanks.
    It's pretty unlikely a return wouldn't be needed but not impossible.

    It's even more likely a return would be needed now finance costs can't be claimed as an expense against the rental income.

    And "full State Pension" doesn't mean anything specific income wise.  Is their State Pension age pre or post 2016?
  • Hello all,
    Please could I have the benefit of your advice to settle an argument?
    A close friend is now retired.  She has income from an occupational pension payment per month (around £500), full state pension and (joint) income from a rented property on which she pays a mortgage.  I think she should provide a tax return; she thinks not.  What's the answer please?  Many thanks.
    Just worked through the HMRC link kindly provided by Macron.

    If your friend's share of the rent either exceeds £2500 p.a ( net of all deductible expenses), or £10,000 gross she must complete an annual tax return.  


  • Hello all,
    Please could I have the benefit of your advice to settle an argument?
    A close friend is now retired.  She has income from an occupational pension payment per month (around £500), full state pension and (joint) income from a rented property on which she pays a mortgage.  I think she should provide a tax return; she thinks not.  What's the answer please?  Many thanks.
    It's pretty unlikely a return wouldn't be needed but not impossible.

    It's even more likely a return would be needed now finance costs can't be claimed as an expense against the rental income.

    And "full State Pension" doesn't mean anything specific income wise.  Is their State Pension age pre or post 2016?
    Thank you very much.  It is post 2016.  I only meant by 'full' that she has put in the max you can but realise that's still a bit - how long is a piece of string?
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