Expenses prior to company closure

[Kess]

I invested in some new computer equipment (paid for my MyCo) a few months ago, but I'm now considering taking a permie role. Could there be any issues with the taxman re. such business expenses incurred a short time before a company goes dormant or is closed?

[Maslins]

I invested in some new computer equipment (paid for my MyCo) a few months ago, but I'm now considering taking a permie role. Could there be any issues with the taxman re. such business expenses incurred a short time before a company goes dormant or is closed?

The only issue will be that I presume you will retain the computer equipment after the company folds. Therefore to do things correctly you should treat it as though the company sells you the computer equipment upon folding. It'll be second hand, but only a few months old, so you should try to figure out some suitable market value at time of cessation. Make sure to factor VAT in as well if the company's registered.

[TroubleAtMill]

The only issue will be that I presume you will retain the computer equipment after the company folds. Therefore to do things correctly you should treat it as though the company sells you the computer equipment upon folding. It'll be second hand, but only a few months old, so you should try to figure out some suitable market value at time of cessation. Make sure to factor VAT in as well if the company's registered.

IANAA etc.

Couldn't another option be treating it as a company asset so is subject to CGT? So, instead of paying, say, £1000 to the LtdCo for the laptop you get the laptop but only pay £100 (10% CGT) to the taxman?

Also, wouldn't it also fall under the Annual Investment Allowance? If the LtdCo is left dormant for a year, the laptop be fully written off (?).