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By Tim Vane
07th Jul 2020 03:19

EDIT - since the OP has removed his post, here it is in its entirety:

Transferring ownership of company car..?

How can I transfer ownership of a company car?

I have purchased a car under my company's name. After a few years, how can I transfer ownership of this to my son (who happens to be an employee of the company)? What are the ways to do this and are there any tax implications?

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My original reply:

Your first sentence is entirely contradictory and you'll need to clarify. To answer your first question: the most common ways to transfer ownership are (a) sale (b) gift and (c) theft. (c) is not legal so I suggest either (a) or (b). The ways to do that are (a) by selling and (b) by gifting. And yes, there are tax implications.

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By Tim Vane
06th Jul 2020 19:12

p.s. "This is something that is too complicated to sort out in a public forum like this - and not in your best interests to pursue in this way. You should really talk to a qualified adviser."

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Replying to Tim Vane:
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By Anonymous.
10th Jul 2020 16:27

Quote:

You should really talk to a qualified adviser.

The OP has asked me to delete his name so I have done.

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panda ketteringUK
By ketteringUK
06th Jul 2020 23:36

Google - please find me a reputable accountant

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By Anonymous.
07th Jul 2020 09:50

That's odd. The question seems to have disappeared.

If anyone wants to have a go at answering it, please see below.

Transferring ownership of company car..?

How can I transfer ownership of a company car?

I have purchased a car under my company's name. After a few years, how can I transfer ownership of this to my son (who happens to be an employee of the company)? What are the ways to do this and are there any tax implications?

Thanks (0)
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