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HMRC Any other income - how to declare?

yellowelise
Posts: 63 Forumite

in Cutting tax
Hi
I work PAYE and have done for 3 years now after a brief try at being a contractor which didn’t work out. I dont fill out a self assessment as don’t normally have any other income however I have received a payment from a specialist company who closed down my ltd company on a Voluntary liquidation basis (now closed).
I am aware I need to declare this and pay entrepreneur tax.
However I do not understand what choice to make on the form as none of the below seem to fit.
I work PAYE and have done for 3 years now after a brief try at being a contractor which didn’t work out. I dont fill out a self assessment as don’t normally have any other income however I have received a payment from a specialist company who closed down my ltd company on a Voluntary liquidation basis (now closed).
I am aware I need to declare this and pay entrepreneur tax.
However I do not understand what choice to make on the form as none of the below seem to fit.
Can anyone help me?

0
Comments
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@Jeremy535897
Thanks for your reply when I posted incorrectly.
unfortunately no the MLV company was not any use, just said ask your accountant, which I haven’t had for 3 years.0 -
That screenshot appears to relate to a source of income HMRC already know about so not sure it is the correct thing to be completing?1
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@Dazed_and_confused yes I agree but on the HMRC app it’s the only options?
I’ll continue trying to talk to them and see what they say, waited over an hour and then it just cut off......web chat seems never available.0 -
Your reference to entrepreneur tax can only be a reference to capital gains tax. If you received less than £12,300 (£12,000 for 2019/20) from the company, and made no other capital gains in the tax year you received the payment, you may not have to pay any tax at all on that payment. If the answer is that you received more than this, you may need to complete a self assessment return, depending on what the cost of the share capital was originally.0
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