changed from sole trader to ltd - can I sell my domains / sites to my LTD company ?

[smingle]

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April 2008 my LTD has been incorporated

All my domains / sites are owned by me personally.

How do I go about selling them to my company ?

And if I can sell them, how do I go about doing it in the best possible way and least taxing way ?

Love to hear some answers please

[darrenb]

Transfer of Goodwill (the value of your sole trader business) to the Limited Company may be an option but this can be complex (HM Revenue & Customs: Tax Bulletin 76 - April 2005) (some info on what it means) and Capital Gains Tax may need to be taken into account depending on the transfer value.

Or you could possible sell the domains /sites to the company as an asset....

Best to speak to your/an accountant to get a better answer.

[SpongeBob]

I'd be quite interested to know that too, as I'm currently a sole trader and would like to convert to an LTD this year and have heard that you can save quite a bit of tax by selling your current assets (web sites, software, etc) to the new LTD company.

I thought you could save tax by using your annual capital gains allowance.

So if anyone knows more about it, or has done it, it could be useful! :tup

[SpongeBob]

Here's an article on it, though how up to date it is I don't know:

Sale of goodwill on Incorporation