On the transfer of a business from a sole trader to a limited company, given the following figures, could someone confirm this is an acceptable way to do things:
Sole trader ceases 31 March
Fixed asset reg NBV of assets £5,000
Cap Allow WDV of assets £3,000
Limited co commenced trading 1st April
to introduce assets into limited co, debit FA £5,000, credit DLA £5,000 re the FA NBV
With regards to capital allowances, make the £3k available to the limited company in the first year of trading
thanks in advance for your replies, no matter how brutal!!