Buying an employee's existing tools

A company is taking on a new employee in a specialist design role that requires particular computer equipment and specialist software costing around £5000-6000 new price. The new recruit already has privately-owned two-year-old equipment and software with a current market value of around £2,500 so is there likely to be any abnormal tax implication for the employee/employer if the company buys this perfectly serviceable equipment from him in a simple transaction and installs it on the company premises for his use?

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Not sure about tax but

Richard Willis |
Richard Willis's picture

If valued at market value

ShirleyM |
ShirleyM's picture

Much appreciated

davidmi |