Selling laptop to end-client

[zerosum]

So why didn't you buy it through your ltd co?

Why not just grab the receipt now, and claim it as an expense?

Sure, but that would be a different approach. If the end-client wants it, 100% of the expense is defrayed.

[blacjac]

I was wondering why OP didn't put the laptop through the business, even if just as an expense if not that expensive.

Would have had to charge VAT when reselling but presumably ClientCo wouldn't have cared.

You sure about that? Last time myco sold some old computers our accountant told us not to charge VAT on them as they were 2nd hand.

Although that was a few years ago and that account went to prison.....

[BolshieBastard]

You sure about that? Last time myco sold some old computers our accountant told us not to charge VAT on them as they were 2nd hand.

Although that was a few years ago and that account went to prison.....

If you're VAT registered, you have to charge VAT on everything you sell unless its zero rated or exempt surely?

[Forbes Young]

If you're VAT registered, you have to charge VAT on everything you sell unless its zero rated or exempt surely?

100% correct.

[TheCyclingProgrammer]

You sure about that? Last time myco sold some old computers our accountant told us not to charge VAT on them as they were 2nd hand.

Although that was a few years ago and that account went to prison.....

I think the less said about him the better eh? He was wrong.

Additionally, if you are on the FRS and originally reclaimed the VAT on a capital purchase over £2k, when you sell it you need to deal with that sale outside the FRS too (i.e. As you would in the standard scheme).