How to sell an asset used in the company's activity

[Mitu8990]

The closure of many businesses raises the problem of how to get rid of assets that have belonged to the company's assets . There are many items that are simply used for personal purposes: computer equipment, cars, furniture... But others must be sold. In this situation, the first thing we must keep in mind is that what is bought with VAT must also be sold with VAT.

Criteria to take into account
If we have benefited from the tax deduction on the purchase, when the sale takes place we must also pass it on and pay it, even if we have already deregistered from the activity . We will have to register for VAT and pay the amount in the corresponding quarter. Then we will deregister again. The sale will be usa shopping data reflected in an invoice that must be included in the Income Tax Return as a capital gain or loss, depending on whether the operation has generated a profit or loss.
It must be taken into account that the transfer of elements of the business assets, even when registered and exercising the activity, is declared in the same way. I cannot add to the amount invoiced in the performance of my profession the amount from the sale of an asset . This amount must be declared in the annual Income Tax; in the corresponding section. To calculate the capital gain we must take into account the amortizations made.

If the goods used in the activity are not sold, but are instead used for private purposes, there is also an obligation to pay VAT. This procedure may seem strange. Do I have to sell an asset to myself? Value Added Tax follows the principle of neutrality . If I acquire an asset and pay VAT on that transaction, deducting it from the amount charged on my activity, it is logical that I have to act in the same way when I dispose of it.
This operation is called self-consumption of assets and aims to prevent professional and personal fixed assets from being used interchangeably. In reality, there are many business assets that are used privately once the activity has been closed. But if the Treasury detects this, we will have to pay penalties, surcharges and late payment interest.