After 15 years subcontracting in the construction industry, I have been offered a job as a General Foreman in the same business as my own at a very good rate, with travel expenses and a phone, I have to use my own vehicle, which they will service and maintain to include tyres etc.
I just cannot turn this offer down.
My query is closing my own Sole trading business, and selling off equipment some of which diggers trailers and diesel whackers etc are over 12 years old well maintained so still valuable assets probably €80k worth. Am I liable for Vat on the sale of these as Vat was claimed when purchased new?
My initial investment in the business approx €25k can I take this from the business when it closes?
I also have 3 vans value at approx €10k each can I trade one in against a new car for my new job, and a small truck value €12k
There will also be a decent bit of cash in the business which I plan on leaving there just in case of warranty claim or future tax issues, audit etc..
I just cannot turn this offer down.
My query is closing my own Sole trading business, and selling off equipment some of which diggers trailers and diesel whackers etc are over 12 years old well maintained so still valuable assets probably €80k worth. Am I liable for Vat on the sale of these as Vat was claimed when purchased new?
My initial investment in the business approx €25k can I take this from the business when it closes?
I also have 3 vans value at approx €10k each can I trade one in against a new car for my new job, and a small truck value €12k
There will also be a decent bit of cash in the business which I plan on leaving there just in case of warranty claim or future tax issues, audit etc..