Sale of assets
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JodieR
Registered Posts: 1,002 Beyond epic contributor 🧙♂️
Client purchased a trading business and paid a £5k lump sum for all machinery, including a van. 6 months later the van had to be scrapped and he got £300 for it. I don't have a breakdown of what the £5k was for and I don't think Im going to get one - any ideas on how best to show the gain/loss on the van?
0
Comments
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Just go with a sensible estimate. You may choose that this was the £300 scrap value or a little more. Don't forget to put the proceeds in the Capital Allowances.Regards,
Burg0 -
Parkers or other car valuation website may be a good start?0
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