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Ask Your Own Question, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 5152
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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This is question about filling self-assessment in UK: I am

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This is question about filling self-assessment in UK: I am full employed and have p60, but in July 2016 I closed company with money in the company £23k I took it to myself (less than £25k). I was told I would have to pay only 10% of tax for this but not 100% sure where and how in the self-assessment to put those details (for my salary I know how to fill self assessment)?
Customer: replied 4 months ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call.
Customer: replied 4 months ago.
Let me know if you need more information, or send me the service offer(s) so we can proceed.

Hello and welcome to JustAnswer. I am here to help you. I am reviewing your question and will respond to you shortly.
Many thanks

Customer: replied 4 months ago.
ok, thanks, ***** ***** can call me on my uk mobile(###) ###-####4372

Thank you for your question..

Please clarify for me.. was the money

- taken as dividends or

- return on investment

Many thanks

Customer: replied 4 months ago.
The money was simply left in the company bank account at the time of closing the company. My previous accountant told me that threshold for 10% tax on money left in the bank account must be bellow £25k, just not sure where in the self assesment to fill it not to be taxed more

Thank you for your reply..

Capital gain as a return on investment can be charged at a lower rate of 10%. I am happy to discuss this on the phone. When was the company closed and when did you stop trading?

Also advise if are you a basic rate tax payer or higher rate tax payer

You need to accept the premium service for phone call.

Many thanks

Customer: replied 4 months ago.
The company was closed in May 2016, because I started working full time in June 2014, but left company opened just in case without any income/trade from that company, so for last tax year I have 0 income from that company,( just need to tax money left in the account, which I had to take out to my private account because company bank account had to be closed as well).
-I am a higher rate payer (because of the salary in the full employment).
-I started filling Self assessment online and have to fill income from two companies: my current full time employment (which is simple to fill from my P60 and P11) and income from the closed company, which is 0. But again, don't know where to enter that money was from the closed bank account left in the company (cannot recognize such entry on the available online form)

Are you able to accept the offer for phone call to speed up matters and other Tax Specialists are ready to help you
Customer: replied 4 months ago.
ok thats fine