How to go about disposing capital assets of company into my personal name.

[Karimbo]

I'm guessing you'd have to sell it at fair market value. How does one work that out?

Can it be median ebay price (less fees and postage), pay that to the company to take it off the company balance sheet?

My computer is brought through the company and I have NAS server for media (photo and video). It's on NAS drives with redundancy and there is also a cold backup. Because the sysem is pretty good I have personal files and photos on there.

Recently got me thinking, having this hardware in the posession of the company with all my personal stuff in there seems quite risky. I probably should move the NAS drives at least out of the company and into my personal posession - probably most cost effective to after it's fully depreciated, out of warranty etc.

What's the best way to get the cheapest price for the components?

I also have a sole trader business, I realised I made a silly mistake buying through the ltd company. I should have bought through sole trader business.

 

[MyAccountantOnline]

I'm guessing you'd have to sell it at fair market value.

Yes that's correct.

It depends on the items/value involved - it may be keeping a record of the same items sold on places such as EBay, or auctions, a professional valuation or a combination of several.

 

[Karimbo]

Thank you.

I am still within the tax year I might just take it off the company accounts and post the transaction as a drawing (reducing the directors loan)

The business has been going strong for 10+ years so I dont forsee any difficulties. Maybe just keep it as CA for now and dispose of the drive if the business comes close to financial difficulties.

Hard drives keep their value, I got the hard drives very cheaply from amazon as a pre-order for 2 x £233 (12TB). I'm see used drives go for £300+ on ebay - these are like 4-5 years old.