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The impression I get from reading about this situation is that in effect I sell my assets (the stock) to the limited company. Surely if this is the case I need to show this to HMRC as a credit to me as sole trader and a debit to the ltd co. Is that correct, and if so whereabouts on a tax return would you put such items?
How accurate does the valuation need to be? It would take a long time to find out the purchase price for each stock item and also stock levels fluctuate on an hourly basis as they are sold.