400k cash investment tax implications

poseidon1

Dazed_and_C0nfused said:

flopsy1973 said:

Yes sorry for the confusion 
400k cash available 
310k in Isa
40k in GIA funds and stocks
Have to do self assessment this year for first time as I have gone over my savings allowance do I need to include 40k in GIA ? If so what?
So investment bond only available via IFA?

That isn't a reason HMRC would ask you to compete a tax return, there must be more to this than you are telling us.

I think it would be useful for those contributing to this post to see the OPs most recent post in the house buying forum below - 

https://forums.moneysavingexpert.com/discussion/6629989/self-assessment-and-tenants-on-univ-credit#latest

As can be seen he is already having to self assess by virtue of  rental income, and seems to be  having conceptual difficulties understanding his  reporting obligations in that respect.

My reccomendation was he engage a tax accountant to complete the return for him and the progress of this particular thread reinforces that reccomendation. In my view it would be a false economy if the OP decides not to appoint an accountant to handle his tax compliance affairs.