Transfer of personal assets to company
I have a number of business related assets which I purchased with my own money prior to company registration, whilst still researching the viability of the business.
I am now interested in transferring these to the business, for the purpose of reclaiming VAT.
What is the process for this? And how do I account it?
I would also like to know how I invest money into the business, I have £3000 initially to 'give' to the company. Again, what's the correct way to account for this? Can I loan it the company and then reclaim it once in profit without paying tax, this is my persona earnings which I have already paid tax on.
The company is Ltd, I am the sole director.