Other UK income 19 - Close company loans written off or released

If you receive a loan or advance from a close company as a participator, and the company releases or writes off the loan or advance, we treat it as your income.

Put the amount of the loan or advance in this box.

Close company loans written off or released qualify for the dividend allowance. You do not pay tax on the first £2,000 of dividends received, but include all of the income, even if it's less than £2,000, as it may affect the rate of tax that you pay on dividends you receive in excess of the £2,000 allowance.

For more information, go to Tax on dividends.