Cessation of a trade or profession or change in accounting date – review of preceding year

Tax and Duty Manual Part 04-03-05 sets out the approach to be adopted when a revision of a preceding year is required - either because of the permanent cessation of a trade or profession or because of a change in accounting date.

It has been updated as follows:

• legislative references have been updated, where appropriate
• instructions in relation to procedures in processing areas have been deleted
• a link to Tax and Duty Manual Part 41A-04-01, which sets out guidance on amending returns and self-assessments, has been added
• the formatting has been refreshed.

19 February 2019