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Pensions, income and tax return

workinggirl32
Posts: 13 Forumite

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.
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.
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Comments
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workinggirl32 said: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.
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-returnGoogling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!1 -
workinggirl32 said: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 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?1 -
workinggirl32 said: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.
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.
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Dazed_and_C0nfused said:workinggirl32 said: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 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?0
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