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Post-cessation receipts and expenses – tax treatment Sometimes a business may have ceased trading but then receives income or incurs expenses that have not been included in the final cessation accounts e.g. an insurance payment may be received or a debt that the business owner thought would never be paid is paid. Such receipts would […]

‘Roll over ‘ relief – what happens if an asset not brought into business immediately There is usually a capital gains tax (CGT) charge when a chargeable asset is sold at a gain (subject to the individual personal allowance for an individual). However deferment of the gain may be possible should ‘rollover relief’ be available.

The role of the Adjudicators Office Few taxpayers are aware that the Adjudicators’ Office (AO) exists. The AO was set up in 1993 to provide an independent free-to-use complaints procedure when all avenues of complaint regarding HMRC and the Valuation Office (VO) have been exhausted. Its primary purpose is to review how HMRC and the