HP transferred from ltd co to sole trader

Posted by ShirleyM PM | on Mon, 03/10/2011 - 11:09 1141 2 comments | report

I should know this but my brain is refusing to get into gear!

Client had a limited company, with a van on HP. HP Agreement was in the name of the limited company. The limited company was struck off (voluntarily), and the sole trader took on the outstanding liabilities of the company. Can the HP interest be claimed as a sole trader expense?

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Short answer - yes.

Owain_Glyndwr | Mon, 03/10/2011 - 11:20

Thank you OG

ShirleyM | Mon, 03/10/2011 - 12:18