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Premium Bonds winnings

Question asked by Alan Bennett 4 years ago

Hi, I won a small amount on premium bonds and it was transferred into my business current account. How do I account for this so that I am not paying tax on it as an income?

1 Reply

It's just classed as you putting money into the business so do exactly the same with it as though you'd made a transfer into the business a/c from your personal a/c.

It'll basically be capital introduced if you're self employed or form part of your DLA if limited.

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