Transferring ownership of Laptop to Ltd

**MarillionFan** · 13 May 2011, 17:24

Originally posted by houmie View Post

I have a one year old laptop that I would like to use in my new business (Ltd in-cooperation was a month ago).

How much do I have to deduct from the original price to represent a fair 2nd hand selling price to my own company? Is 33% ok and legal ?

Many Thanks,

In theory it's up to your LTD what it pays for it. As longs as it's not a blatant piss take.

I regularly move equipment between companies / personal and frankly if it is something I have purchased recently I make sure the LTD pays that amount for it. If you buy it from yourself though, there is no VAT to claim back.

**Clare@InTouch** · 14 May 2011, 11:16

I'd suggest you check for similar items on Ebay, that way you can prove that the value you've transferred it at is genuinely the value that an unconnected third party would have paid.

**MarillionFan** · 14 May 2011, 12:55

Originally posted by Clare@InTouch View Post

I'd suggest you check for similar items on Ebay, that way you can prove that the value you've transferred it at is genuinely the value that an unconnected third party would have paid.

Or say you'd bought it from Elton John and charge 10x the price.

**VectraMan** · 14 May 2011, 14:03

I expensed the full price of a laptop I bought 2 months before incorporation, and reclaimed the VAT too. I guess a year might be too long for that.

Transferring ownership of Laptop to Ltd