Post Cessation Expenses
A solicitor ceased trading 3 years ago but since that time has incurred the following costs:
1. A number of claims have been made against him where he has had to pay the insurance excesses. This has amounted to tens of thousands.
Can this be claimed as post-cessation expenses on the basis that this is 'remedying defective work done' and does this have to be claimed in the year the payment is made?
2. The solicitor received significant sums to do with miners claims during the time he traded. However, the claims for costs by solicitors were judged to be excessive. This judgement was made after the solicitor ceased trading.
Can this be classified as 'bad debts' and claimed at any time up to 7 years after cessation?
Thanks for any feedback.
- Charitable incorporated organisation 65 1
- Claiming the expenses of Scooby 193 3
- tax credits 100 2
- Seeking advice: Freehold Pub Lease 262 9
- Legitimate Expectation 129 2
- What do do about VAT? 428 14
- Payroll got out of synch 335 10
- Holding company - accounts and tax return 76 1
- Employee leaving mid month and Payroll Manager 1,069 23
- Amending 13-14 sole trader return to reflect increased profit in 14-15 139 2
- Client right to working papers 1,213 8
- Stamp duty or SDLT payable on admission to a partnership? 165 3
- Are there any auto-enrolment engagement letter templates? 844 18
- Directors, service companies and national minimum wage (NMW) - Profit extraction 251 6
- Accounts Package 584 14
- Seeking advice: Paying Funeral Costs 643 7
- Share issue and transfer 109 3
- How much do you charge for Accountant's Reference? 631 7
- Old payroll 231 5
- HMRC Debt collectors 316 4
- NHS finance professionals 589
- Auto Enrolment and Foreign employers 387
- Foreign Pension Contribution 361
- vat gross profit percentage margins 332
- Employee's statement of sickness (SC2) form - no longer available as downloadable pdf 321
- Pre Season Invoice dated September how do you treat the VAT as not due until May 16 302
- SWAT AML v Anti Money Laundering Compliance Plus (AMLCP) 265
- Thinning income 264
- Does pension term assurance count for unused relief purposes? 219
- IFA income recognition & reporting 198