Can my CIC buy things from me?

[Sophie]

I’m opening a CIC bookshop and am starting off with the majority of my stock being my personal collection i have built up over the years. The majority I’m happy to donate, but there are some that are quite valuable that I would like the company to buy from Me. Is this okay? Is there paperwork I need to do to ensure it’s legitimate?

[John Mulkerrin]

Hi Sophie

yes, you need to make sure the transaction is recorded as it would be for purchasing from another individual. It must not be for more than market value.

Perhaps bundle/value all the books together and then just charge the CIC for the valuable ones, in effect you would then be selling a block of books to the CIC at an obvious discount in one transaction.