Hi all,
Please can someone from accounting background validate my calculations.
I closed my limited company via MVL. I am filling in my self assessment. I received say £120k as capital distribution (no other capital gains this year) .
Page 15 - under the section "Other property, assets and gains"
Box 14. Number of disposals = 1
Box 15. Disposal Proceeds = 120000
Box 16: Allowable costs = 0
Box 17: Gains in the year before losses = 108700
Box 20: Any claim/election = yes (Entrepreneurs relief)
Page 17 Loss and adjustments section
Box 50: Gains qualifying for ER (after 2010) = 108700
Is this correct? Did I choose the correct sections/boxes?
Please can someone from accounting background validate my calculations.
I closed my limited company via MVL. I am filling in my self assessment. I received say £120k as capital distribution (no other capital gains this year) .
Page 15 - under the section "Other property, assets and gains"
Box 14. Number of disposals = 1
Box 15. Disposal Proceeds = 120000
Box 16: Allowable costs = 0
Box 17: Gains in the year before losses = 108700
Box 20: Any claim/election = yes (Entrepreneurs relief)
Page 17 Loss and adjustments section
Box 50: Gains qualifying for ER (after 2010) = 108700
Is this correct? Did I choose the correct sections/boxes?
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