Hi,
Was sole trader there until July of 2014, setup LTD in Aug 2014.
I have assets like laptop, printer, monitors and that which I was now told I should have "sold" to the LTD company.
How do you go about valuing these and then should I have done this back in Aug!!!!!!
If not then can I do it now, and is it a case of creating an invoice with all the items and prices and making it out to my LTD company, and then transfer the money to my own account (used to be the sole trader account).
Also tax wise, I presume there are tax implications for the sole trader?
Thanks in advance.
Was sole trader there until July of 2014, setup LTD in Aug 2014.
I have assets like laptop, printer, monitors and that which I was now told I should have "sold" to the LTD company.
How do you go about valuing these and then should I have done this back in Aug!!!!!!
If not then can I do it now, and is it a case of creating an invoice with all the items and prices and making it out to my LTD company, and then transfer the money to my own account (used to be the sole trader account).
Also tax wise, I presume there are tax implications for the sole trader?
Thanks in advance.