Qualify for Relief
For you to qualify for this relief you must make a claim within seven years of ceasing your involvement in the business. The following is a list of some of the expenses that you may claim relief for (see box 15.8 in the Tax Return Guide for information):
- Remedying or damages for defective work
- Services provided relating to the former business
- Goods supplied
Tax relief is given against income and capital gains for the year that the expense is paid. Use the Post cessation expenses tab to enter details relating to your claim.