Transferring ownership of Laptop to Ltd

[VectraMan]

I expensed the full price of a laptop I bought 2 months before incorporation, and reclaimed the VAT too. I guess a year might be too long for that.

[MarillionFan]

I'd suggest you check for similar items on Ebay, that way you can prove that the value you've transferred it at is genuinely the value that an unconnected third party would have paid.

Or say you'd bought it from Elton John and charge 10x the price.

[Clare@InTouch]

I'd suggest you check for similar items on Ebay, that way you can prove that the value you've transferred it at is genuinely the value that an unconnected third party would have paid.

[MarillionFan]

I have a one year old laptop that I would like to use in my new business (Ltd in-cooperation was a month ago).

How much do I have to deduct from the original price to represent a fair 2nd hand selling price to my own company? Is 33% ok and legal ?


Many Thanks,

In theory it's up to your LTD what it pays for it. As longs as it's not a blatant piss take.

I regularly move equipment between companies / personal and frankly if it is something I have purchased recently I make sure the LTD pays that amount for it. If you buy it from yourself though, there is no VAT to claim back.

[houmie]

I have a one year old laptop that I would like to use in my new business (Ltd in-cooperation was a month ago).

How much do I have to deduct from the original price to represent a fair 2nd hand selling price to my own company? Is 33% ok and legal ?


Many Thanks,