Declaring Directors Loan on self assessment income on recently dissolved company

I'm looking to file my tax return and I'm having a hard time understanding how to declare the income I took out from the business that was recently dissolved due to late filings. for the year 23/24 I only drew out £1200 but for 24/25 it'll be upwards of £6500. I just need to know whether to include the company on my self assessment at all and just declare it as other income or whether or not there's another way for me to declare it? Any advice would be greatly appreciated Thanks, Tyler

Hi,
You would declare the drawings in box 98, on the supplementary page SA103F page SEF5:
Self-employment (full)
If you are completing an online tax return, you would tick 'yes' to the box asking if your have an annual turnover of more than £90,000. By doing this, you have the full self employment page. Tick 'yes' to the option to include a balance sheet. Enter the drawings in the last box on page 2 of 2 of the balance sheet.
Thank you

Not HMRC...you most deifinitely DO NOT include this in SA103F...that is for self employment, this is a limited company withdrawal and nothing to do with self employment, it is most definitely not drawings, drawings do not exist in a ltd company. If this was in a Directors Loan account in the company, this is money the company owed you in respect of previous company adjustments and it is NOT reportable as income in SA. HMRC please correct your advice.

I would also add...you need to ensure this is, in fact, a Directors Loan repayment. What should happen when the company is wound up is that a final set of company accounts is prepared to that date, if this hasnt happened it should! These accounts will show the tax treatment of any funds paid/due to the director...i.e. if salary it would show in the Profit and Loss (and therefore goes on employed pages on SA), if dividends it would show as distibutions (and would go on dividends on SA), if capital distribution it would show re share capital (and would go on CGT pages on SA with Business Asset Relief (if claimable) ) or if indeed it is repayment of directors loan then this is straightforward repayment of a loan made to the company by the director and this does not go anywhere on SA. SA must replicate the company accounts position where the director is concerned.