Where a partnership ceases to trade, including where there is a
sole trader to partnership or partnership to sole trader change
during the return year, the partnership return should show the date
of cessation or change (commencement or cessation).
A work item is created following capture of the return. For
more information see subject ‘Daily Returns Review: Ceased
Date Set’ (
SAM125010).
Where the business commenced, or is deemed to have
commenced, before 6 April 1994 and has now ceased, an Inspector
should consider the implications of transitional overlap relief or
overlap relief. There is a potential tax loss if this review is not
made.
Where the business clearly commenced after 5 April 1994 and
has now ceased, all years should be reviewed for the implication of
overlap relief.
