Partnership selling Guest House in 2021/22 tax year will have a remaining capital allowance pool and hence available allowance of circa £25,000 , Ive read this can be offset against tax liability on cessation, so the question is , please
Will the (estimated) 20/21 tax bill of £7,500 be wiped out by the available allowance if the property is sold in the new tax year 21/22 ?
Hope someone can help ?
Many Thanks
G
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