Selling a vehicle to my company

Question asked by Ashley Thorne 7 years ago

I'm wondering how to set up for an unclaimed expense. When we transferred the company to a LTD company we also sold our van to it. What is the best way to create this so that we can pay ourselves back? Thanks.

unclaimed
expenses
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Hi Ashley,

I recommend creating a bill for the value of the asset (the van) payable to yourselves from the company.

In regard to how this would need to be treated for VAT, you would need to confirm this with your accountant.

Thanks, Theo

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7 years ago

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