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Recent content by embo
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Selling Capital Allowences from Self Employed to Ltd Buisness
Thanks again :smile- embo
- Post #9
- Forum: Accounting / Legal
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Selling Capital Allowences from Self Employed to Ltd Buisness
I presume that only a balancing charge arises when the assets are sold at more than the WDV. The reason for my confusion on this is that in this HMRC example: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/323611/hs252.pdf The guy sells all his equipment and incurrs a...- embo
- Post #7
- Forum: Accounting / Legal
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Selling Capital Allowences from Self Employed to Ltd Buisness
"The key to this is (a) was any election done to transfer assets over at tax WDV" Yes I worked out the pool value and that was the amount transferred (to the penny). "I get the impression you were doing your own accounts for self employment? In which case you will have details of your CA pool?"...- embo
- Post #5
- Forum: Accounting / Legal
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Selling Capital Allowences from Self Employed to Ltd Buisness
Im sure this must be taxable so want to do the right thing. Just so annoyed with myself for not remmebering to ask the account yesturday. Did you take the 1k from your Ltd personally or did the money go into your SE business account? Transfered it into my personal account becuase I had closed...- embo
- Post #3
- Forum: Accounting / Legal
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Selling Capital Allowences from Self Employed to Ltd Buisness
I transfered 1ks worth of capital assets to my ltd company (or rather the accountant did it) before closing the self employed buisness. As they were several years old, have I as the self employed buisness owner incurred tax in doing so? I presume so but according to the HMRCs definition of...- embo
- Thread
- Replies: 8
- Forum: Accounting / Legal
