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Personal tax allowance if unemployed - other factors that could affect it?

What_time_is_it · 2025-01-31 11:16:27

I took redundancy just before Christmas and I am taking some time off work for a couple of years. I have quite a bit in savings so I need to work out what my Personal Allowance will be for the year 2005/26. I understand that if I do not work my allowance will be £18,570, made up of: £12,570 personal allowance £5,000…

Comments

What_time_is_it Posts: 892 Forumite

31 January at 6:29PM

butterflymum said:

Remember, if you earn more than £10,000 in savings and/or investments interest in a year, HMRC apparently say you must register for Self Assessment.

Thanks. Yes. I think I will have to do that in 2025/26.

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