Sole trader final year | AccountingWEB

Sole trader final year

I purchased approx £3k worth of equipment back in May 2011, which I have used in my part time business (sole trader). I'm now looking to become limited and I've recently been told that I can't claim AIA or any kind of tax relief for that equipment, as I will be ceasing my sole trader-ship.

This will make a large dent in my tax liability - is there anything that I can do to mitigate the burden?

Thanks in advance.

There are 5 comments. Login or register to view them.

Why dent?

Jane Dance |


VRunner |

When's the Sole Trader yr end?

Jane Dance |

Who has told you that?

David Massey |

SOLUTION: Date of ceasing sole trader & drawing up accounts

DMGbus |
DMGbus's picture