Sole prop cessation accounts
Sandra
Registered Posts: 20 New contributor 🐸
Hi
Any help please with cessation accounts - I have not done these before, how do I treat the items on the balance sheet i.e. car, plant, bank - am I ight in thinking that the assets are treated as disposed of to the proprietor in effect? This one has been going round and round and now I am just in knots - Any help greatly appreciated
Many thanks
Sandra::huh:
Any help please with cessation accounts - I have not done these before, how do I treat the items on the balance sheet i.e. car, plant, bank - am I ight in thinking that the assets are treated as disposed of to the proprietor in effect? This one has been going round and round and now I am just in knots - Any help greatly appreciated
Many thanks
Sandra::huh:
0
Comments
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If AIA or CAs have been claimed then there could be balancing charges to settle on the final TR. And was there any VAT claimed on the purchases?0
