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Selling van to my Ltd Company

Joined:Tue Mar 02, 2021 10:00 pm
Selling van to my Ltd Company

Postby chocolatespatula » Tue Mar 02, 2021 10:10 pm

I have a personally owned van and have recently setup a Limited Company. I would like to sell the van to the company and had a few questions:

1. When selling this I can invoice the company and transfer the funds - is there anything else that needs doing? - do I need to change the registered keeper and update the log book at all?
2. I understand that as a commercial vehicle I will be able to write off the cost of the van as a deductible expense.
3. The van is not brand new, in fact quite old - how do I work the depreciation in my annual accounts?
4. What happens if I sell the van from the company at a later date and it sells for more than the depreciated value?

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