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08 November 2016
Reporting on retirement income with new Making Tax Digital regime.
I am a retired taxpayer aged 70 and I no longer work. Since retiring I rely on various sources of income and other capital gains and submit my tax return on a yearly basis setting out the following.
- Dividends from a small shareholding in my son’s haulage company. I sold this company to him many years ago and I play no active role.
- Receipt of some foreign dividends.
- Dividends from some shares on the stock market.
- My retirement pension.
- Bank and building society interest.
- Investments in the stock market which is my passion. I do tend to do rather well and I make quite big capital gains well above the annual exemption each fiscal year.
I would welcome advice on my reporting requirements when the new...
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