computer assett question

**TheFaQQer** · 14 February 2008, 10:02

1 - yes, claim the expense back from the company.

2 - no, "they" may well want to see the assets. Otherwise, what's to stop you from printing your own receipt for a few grand and just showing that? I would also be suspicious of any company assets that are not kept at the company office, or with a company employee - particularly saying the HMRC "oh, I've got it, it's a company asset, but I keep it at my brothers". Sounds like a spot of fraud to me.

3 - yes. It's a company asset, so when you sell it, the money goes to the company.

**malvolio** · 14 February 2008, 10:10

If you buy it it's yours. If you buy it and sell it to the company it's the company's. If you buy it and reclaim the cost from the company, it's the company's. If it is the company's and you sell it, that's basically theft. So the company has to sell it.

The paper trail will be enough proof, unless the taxman has doubts about your record keeping when he will want to see some physical evidence - but if it comes to that, one PC will be a minor problem!

However, you need to understand the difference between you and YourCo which are entirely separate legal things (as are the two bank accounts). Get that wrong and you are in serious doo-doos...

**mike mac** · 14 February 2008, 10:26

Thanks guys. I have an accountant keeping my books in top order, so that should be all good.

Later down the line how would I sell the hardware through my company? Would it just be a case of keeping records of the person I sold it to and showing on an invoice the money going back in?

Thanks again for the help.

**b0redom** · 14 February 2008, 10:35

It's the same as selling services etc. Just raise and invoice and pay the money into your company account.

computer assett question