Sole prop cessation accounts

Sandra Registered Posts: 20 Dedicated contributor ? ? ?

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


  • T.C.
    T.C. Registered, Tutor Posts: 1,448
    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?
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