Purchasing assets before beginning to trade?

[colour1]

Hi there,

I currently have a limited company set up, which is inactive and not to begin trading until later next year (I am currently employed).

I am in the process of planning the business a present, and would find certain items such as a laptop very helpful right now. I have some personal savings put aside which will ultimately fund the business, so can purchase the items from the savings, but I would like the laptop etc. to become business purchases in time, rather than personal items.

Would it be better to buy the items now, keeping the receipts to put through the books next year? Or would I sell the laptop to the business (maybe at a fair second-hand value?) once trading has started?

As you'll see in my next post, I'm not completely familiar with the process of claiming tax back etc., so please bear with me

 

[CassioAcc]

You can claim pre trading expenditure

 

[markmclaren]

If you are going to be VAT-registered, you can reclaim VAT on goods bought up to 3 years before registration. More details here:
http://www.hmrc.gov.uk/vat/start/register/purchases-before.htm