As with trading stock, ‘work in progress’ is defined only in relation to the cessation of a business. In that context, it means (ITTOIA 2005, s. 183) services performed in the ordinary course of the profession or vocation:

(1)the performance of which is wholly or partly completed at the time of the cessation, and

(2)for which it would be reasonable to expect that a charge would be made if the profession or vocation had not ceased and (in the case of partly completed services) if the performance of the services had been fully completed.

The term also specifically includes any article produced, and any material used, in the performance of any such services.

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