Assume this is correct....

[blacjac]

You may be right, but I let my accountant sort that out...


£125 in my back pocket or £125 in my companies bank account makes no real difference to me.
Company re-emburses all selling fees though obviously.

[northernladuk]

Thats what I do.
Sell it on eBay with my personal eBay account, transfer the money to the company bank account and enter it in the books as 'Sale of xyz phone'.

MyCo got £125 for an HTC Desire earlier this year when I upgraded to an iPhone

I thought as it came with the contract and the fact it is under £500 you didn't need to account for it as an asset therefore doesn't need to be depreciated or anything. The fact it is now 2 years and has such a low value means it is just written off with no other thought? There is obviously a line where selling company gear under the radar becomes a bit naughty but this instance would be ok.

EDIT : Obviously if it didn't work properly <cough> and you sold it for 'spares' then it definately won't matter what you do with it

[blacjac]

Can the panel confirm or correct the below....

When a mobile phone contract is taken out under the company name usually the handset requires an up front capital outlay (Say £150) and then the monthly charge.

When the contract ends the handset is a company asset. My Ltd company contract runs for 24 months (and an upgrade is due) so what ultimately happes to the handset? Is it written off after a period of time or can it be sold and the proceeds returned to the company coffers?

Thats what I do.
Sell it on eBay with my personal eBay account, transfer the money to the company bank account and enter it in the books as 'Sale of xyz phone'.

MyCo got £125 for an HTC Desire earlier this year when I upgraded to an iPhone

[DodgyAgent]

Hello...? Hello..? Is there anyone there?

Very funny

[MarillionFan]

Hello...? Hello..? Is there anyone there?

If someone doesn't answer the OP soon he's going to be dancing on the ceiling.

[SupremeSpod]

What does the receiver say?

Hello...? Hello..? Is there anyone there?

[DodgyAgent]

Can the panel confirm or correct the below....

When a mobile phone contract is taken out under the company name usually the handset requires an up front capital outlay (Say £150) and then the monthly charge.

When the contract ends the handset is a company asset. My Ltd company contract runs for 24 months (and an upgrade is due) so what ultimately happes to the handset? Is it written off after a period of time or can it be sold and the proceeds returned to the company coffers?

What does the receiver say?

[MarillionFan]

Have you tried asking NLUK?

ftfy

[SupremeSpod]

Can the panel confirm or correct the below....

When a mobile phone contract is taken out under the company name usually the handset requires an up front capital outlay (Say £150) and then the monthly charge.

When the contract ends the handset is a company asset. My Ltd company contract runs for 24 months (and an upgrade is due) so what ultimately happes to the handset? Is it written off after a period of time or can it be sold and the proceeds returned to the company coffers?

Do you have an accountant?

[vetran]

When the contract ends the handset is a company asset. My Ltd company contract runs for 24 months (and an upgrade is due) so what ultimately happes to the handset? Is it written off after a period of time or can it be sold and the proceeds returned to the company coffers?

either, depending on residual value.

get quotes for value from mazuma or similar, sell it to yourself at that value. or pop it on eBay.

Key thing is to get a reasonable idea of value at time of sale.

[badger7579]

Can the panel confirm or correct the below....

When a mobile phone contract is taken out under the company name usually the handset requires an up front capital outlay (Say £150) and then the monthly charge.

When the contract ends the handset is a company asset. My Ltd company contract runs for 24 months (and an upgrade is due) so what ultimately happes to the handset? Is it written off after a period of time or can it be sold and the proceeds returned to the company coffers?