Sole prop cessation accounts

Sandra
Sandra Registered Posts: 20 Dedicated 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:

Comments

  • 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?
Privacy Policy