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Balancing Charge

May arise when you sell, give away or stop using a capital item in your business - balancing charges increase your taxable profits.
Best estimate

An estimated figure you use in your Company Tax Return based on all information available at the time you completed your return.

Business Activity

See 'active'.

Business Asset Roll-Over Relief

When your company or organisation sells or disposes of some types of business asset, such as land and buildings, but intends to buy a new asset to replace it, it may be possible to defer the payment of any tax that would normally be due on any chargeable gain; see 'chargeable gains'.