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Car dealer ltd company wants to cease trade

What happens to the unsold stock of cars?

The value is around £50k. Any clarity greatly received

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By tom123
04th Oct 2017 11:49

Presumably these are offloaded to someone else in the trade - what else do you think might happen?

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04th Oct 2017 12:04

The usual anonymous bull5hit.

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04th Oct 2017 12:07

I reckon they will take all the bits and turn them into a giant robo-car and terrorise the local population.

Either that or send them to auction. Who knows!

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to ireallyshouldknowthisbut
04th Oct 2017 14:15
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By jcace
04th Oct 2017 12:26

You tell us. Presumably they will be sold prior to cessation, rather than sit somewhere and slowly rust.

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04th Oct 2017 12:34

Oh, I just thought I could keep them.

For clarity, that's the OP thinking aloud, not me.

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to andy.partridge
04th Oct 2017 12:40

Quote:

Oh, I just thought I could keep them.

For clarity, that's the OP thinking aloud, not me.

To be fair, they could just keep them.

The tax and accounting consequences of doing so are quite a different matter.

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to stepurhan
04th Oct 2017 15:10

True. The 'just' was meant to imply no consequences, but I realise now it might have been better placed between 'could' and 'keep'!

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04th Oct 2017 12:37

1 really expensive car or 25,000 fairly cheap ones?

It won't make any difference to the treatment. But it will probably affect the options available.

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By OC
04th Oct 2017 12:37

@OP..Thats a bit of an open-ended question !.do you mean from a tax or accounting viewpoint?

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By Ruddles
04th Oct 2017 12:39

Right back at ya, OP - any clarity greatly received.

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04th Oct 2017 12:45

Whatever the directors decide to do with them - or, if the company is ceasing to trade because it is insolvent, whatever the liquidator decides to do with the them.

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By Ruddles
04th Oct 2017 12:56

Depends on whether the gates are locked or not.

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04th Oct 2017 13:14

They gradually rust into a void of nothingness.

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04th Oct 2017 13:20

I have always liked this idea:-
https://en.wikipedia.org/wiki/Carhenge

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04th Oct 2017 13:25

Has he thought about having a fire, and then making an insurance claim?

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04th Oct 2017 14:02

sorry you have provided far too much information, combined with your personal view having carried out research diligently leading you to an uncertain conclusion on which you require some opinions from your peers.

On other matters I like your business model...know nothing but charge for the pleasure...(its an assumption/guess but you are probably very familiar with them within your business model)

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04th Oct 2017 16:39

There is a potential 'deemed supply' for VAT purposes, if any are qualifying vehicles.

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