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Loss on dispoal

Morning I have a situation where a sole trader, a chauffeur is about to dispose fo his expensive ca

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Morning

I have a situation where a sole trader, a chauffeur is about to dispose of his expensive car which is held in a single asset pool. The prcoeeds will be far less than the tax written down value. As the business is not ceasing he cannot claim a balancing allowance. 

In his tax return he has never prepared a balance sheet or incldued deprecaition is his PL. As the car is being sold at a loss, can he claim a loss on disposal in his PL accounts?

 

 

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By MJShone
17th Jan 2020 12:26

I might be being thick but why does the business have to be ceasing in order for him to claim a balancing allowance? It's the disposal of the asset, dthe disposal0et0of tdth-losal r humberland asing in ot-dplies (8) / the daxkdisplath="55"-

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