Perfect, That was my initial thought. Thanks for taking the time..
Thanks for that.. Full market value will be the basis for transfer,
Am I right in assuming it would be treated as a normal vatable sale.
Agreed that incorporation was a mistake, it was advised to limit other potential issues, and VAT is the issue..
Thanks..
The Director personally wants to buy back the plant and machinery from the Limited Co. in lieu of his Loan Account which was created on the incorporation.
My answers
Perfect, That was my initial thought. Thanks for taking the time..
Thanks for that.. Full market value will be the basis for transfer,
Am I right in assuming it would be treated as a normal vatable sale.
Agreed that incorporation was a mistake, it was advised to limit other potential issues, and VAT is the issue..
Thanks..
The Director personally wants to buy back the plant and machinery from the Limited Co. in lieu of his Loan Account which was created on the incorporation.