transfer of vehicle

SummerOaks
SummerOaks Registered Posts: 3 New contributor 🐸
in General accounting discussion
I need to transfer a vehicle from one sole trader business to another (same person). Need a high value to go to the new business. Anyone know the criteria for valuation, thanks

Comments

  • T.C.
    T.C. Registered, Tutor Posts: 1,448 Beyond epic contributor 🧙‍♂️
    I would only use the book value (ie that value the business shows) or possibly the retail value (from Autotrader)?
  • K H
    K H Registered Posts: 81 Regular contributor ⭐
    If you know anyone in the motor trade they should have access to a publication called 'glasses guide', this gives both trade-in and retail values.


    K H
  • deanshepherd
    deanshepherd Registered Posts: 1,809 Beyond epic contributor 🧙‍♂️
    Parkers website is what I normally use. Not as accurate as Glass's but more than sufficient for tax purposes. Glass's will cost you £3.50 a time if you want to do a search online.

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