Selling company van to a private individual - CRA
Discussion
I'm going to sell my van - it is owned by my VAT-registered limited company. It's too old / high mileage to be likely to appeal to a company owner, but they do have a following among enthusiasts so will probably go to a private individual.
Is there any way I can sell it direct from my company without being on the hook for CRA obligations if a private individual buys it?
I could transfer ownership to myself before selling, but it adds another owner to the V5 and is a bit of a faff.
Any thoughts / experience appreciated.
Is there any way I can sell it direct from my company without being on the hook for CRA obligations if a private individual buys it?
I could transfer ownership to myself before selling, but it adds another owner to the V5 and is a bit of a faff.
Any thoughts / experience appreciated.
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