Covid -19  -  Trading stock valuations as at 31 March 2020

 

If you were unable to under take your stock valuation as at 31 March 2020 due to the lock down, IRD will allow a late 2020 stock take, provided it is carried out as soon as practicable and no later than 31 May 2020.

The closing stock figure needs to be reconstructed by adjusting for post-balance date sales and purchases - those made between balance date and the late stock take date. 

Please contact us if you require any assistance in this area.   

 

 

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