Sale of assets
Options
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
-
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
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.4K For AAT students
- 264 NEW! Qualifications 2022
- 144 General Qualifications 2022 discussion
- 9 AAT Level 2 Certificate in Accounting
- 45 AAT Level 3 Diploma in Accounting
- 66 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 268 VAT
- 90 Software
- 271 Tax
- 133 Bookkeeping
- 7.1K General accounting discussion
- 195 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 578 Job postings
- 16 Who can benefit from AAT?
- 35 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership