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I have a client which we have just started a new Ltd business for; prior to this, the individual was registered for self-employment.
My problem lies with the following:
The client is an optician and they have some equipment they have purchased a year or so back, the assets were never entered into the self-employed accounts as the client wanted to go Ltd and was only self-employed for a year.
Can the client personally raise an invoice to the company for the cost of the equipment, which the company will then pay and have on the fixed asset register?
If this is the case is there any bearing on the client individually for the sale of the asset to the company?
Is this the correct way to deal?
Thanks a lot
My problem lies with the following:
The client is an optician and they have some equipment they have purchased a year or so back, the assets were never entered into the self-employed accounts as the client wanted to go Ltd and was only self-employed for a year.
Can the client personally raise an invoice to the company for the cost of the equipment, which the company will then pay and have on the fixed asset register?
If this is the case is there any bearing on the client individually for the sale of the asset to the company?
Is this the correct way to deal?
Thanks a lot