"Money introduced can be dealt with in the same way as asset introductions.
For assets & money I’d make sure you have paperwork on file, eg asset schedule & transfer/loan agreement - director minutes should suffice."
A simple way to transfer the assets is to 'sell them' to the CIC. The value of the equipment, in its current condition would be recorded as an asset of the CIC (and hence capital allowances claimed), the value would be…"
Hi,We have been running as an unincorporated association for just over 2 years. We have just this week incorporated as a CIC. We have quite a lot of equipment that we want to transfer to the CIC. What is the best way of doing this? Selling the stock to the CIC? We haven't got any funds as a CIC a the moment. As a Unincorporated Association we agreed we would donate the stock to a similar organisation when we would close it, but of what I understand receiving donations that have a value towards…See More
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