Selling a vehicle to my company

Question asked by Ashley Thorne 8 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
Write reply1

1 Reply

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

Best answer
8 years ago

Reply to this question

Attach images by dragging and dropping or upload
 

Your comments will be public and can be answered by anyone in the Clear Books community.

Find out what we do and who we are

Apps

Company

Social