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Freehold property dispossal on cessation

Ryan Mundy MAATRyan Mundy MAAT Just JoinedSouth WestMAAT, AAT Licensed Accountant Posts: 22
Happy New Year!

My client is a sole trader. He is retiring and gifting his business to his son as a going concern.

The business property is privately owned by the father, but listed on the balance sheet at £18k (1979). He does not plan to transfer the property to the son.

How should I deal with the property on cessation?

Thank you
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