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cadengineer
26th August 2004, 12:59
Just purchased a new car a few weeks ago in the company name...now I have been offered a permanent position in the USA and want to close the company down,,what should I do with the car.. buy it from the company on a personal finance plan...? any ideas most welcom..

Robot
26th August 2004, 22:29
Transfer the asset to your directors loan account (this is you buying it) and then close down the company via a capital distribution. The capital distribution will repay the directors loan account. Remember, a new car plummets in value the day you take it off the forecourt;)

Re Capital Distribution – See - Withdrawal method .. p201.ezboard.com/fcukfrm4...=446.topic (http://p201.ezboard.com/fcukfrm4.showMessage?topicID=446.topic)