Paulie

So what would be the amount I would be able to 'earn' via interest and dividends before I would be liable for income tax?

I have no employment, pensions & I don't claim any benefits. My sole income is from interest on savings and share dividends. I have transferred the marriage allowance to my wife so my allowance would be £11310. Whilst checking online, I notice that my annual tax-free amount for 24/25 shows as being £9850 due to untaxed interest on savings and investments equalling £1460. Where would this figure come from? How much would I have to 'earn' from interest/dividends before I would start to pay tax? I thought it would be personal allowance plus £1000 equalling, for me, £12310.

I am not employed and therefore have no salary, I do not claim any benefits and I am too young to have access to a pension. My sole income is derived through interest on savings and share dividends. I have not paid any income tax for a number of years but I notice that on my 2024/25 forecast, it states that I may be liable to pay £5,068. I know this is wrong as it suggests that my income from employment will be £37000( no idea where this comes from as the most I have ever earned from employment in a tax year is about £13000 many years ago). It also says that my annual tax-free amount is £9,850. PA of £12,570 less marriage allowance to partner of £1,260. I transferred this a number of years ago. It then informs me that I have untaxed interest on savings and investments equalling £1,460. No idea where this figure comes from. As I understand it, my PA of £11310 means I may earn this amount plus another £1000 in consideration of savings interest before I would be liable for income tax. Bearing in mind, my sole source of income is from interest and dividends. Would this be correct?