transferring personal items into a new LTD Company

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Part B
How do you incorporate personal items (equipment / machinary /inventory/ laptop etc ) that you have purchased personally over time prior to setting up a company into a LTD company?

Does the new LTD company "buy" the items from you (from yourself effectively )?

Or can you convert the items into a "Directors Loan" in the company (to the value of the items obviously)



Thanks


GF

 

[Setanta12]

Same as capital introduced, except the usual way of withdrawing cash from the Bank to buy the asset is bypassed.

Care should be had though - market-values will apply (better experts than me on this site will be able to elaborate further - you couldn't bring in a machine worth EUR100 and expect it to be in the books for EUR1,000 etc etc)