Closing a business

I have closed my limited company and after settling all outstanding issues have paid the remaining cash into my personal bank account. How do I account for this in my self assessment tax return? As other income? As dividends? All advice gratefully received.

Hi
The disposal information would be on the company return and not a personal one.

Not HMRC...you cant close a ltd company without preparing a final set of accounts covering the date from the previous set to the date of closure, which would effectively show what these funds are, i.e. whether salary (would be in PandL), dividends (would show as distributions), or value of balance sheet (would show on balance sheet and be represented by capital distribution on shares) in which case CGT with any business reliefs...so whilst HMRC is right, and anything relevant would be in the company accounts, that is then replicated on your SA return, but it needs to correspond to the treatment of those funds in the final set of company accounts.

Thank you Clive Smaldon for your explanation - this now makes perfect sense. Much appreciated!