Selling a company car to an employee

We have agreed to sell a company car to an employee, who will repay us from deductions from his pay over 2 years.

A couple of questions :

Do we need to raise a misc. invoice ? (if so, do we include VAT ?)

or,

Can we simply Cr Fixed Assets and create a loan account Debtor to be reduced each month?

In addition to the above, we will do the usual profit / loss on disposal etc.

Steve

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Employee loan

Anonymous |

Sale of Car

neileg |