Can I protect my Company from losing assets – I’m a builder? #AskAMS

How to avoid losing the value of your business assets.

One way is to rent your assets to your Company - if it has funds tied up in plant,  machinery etc., consider separating them from your Company by transferring them (at market value) either to own personally, or by a separate Limited Company). You can then rent the assets to your Company at a fair value.

If there are HP or loan agreements tied to some of them, it is more complicated, but assets bought for cash, or where HP accounts have been paid up, can be transferred. New HP assets/accounts could be set up in the hiring-out business.  So if the worst ever happened, and the business failed, if the assets have been transferred correctly, the “tools of your trade” will be safeguarded and you will be able to recommence trading without having to start from scratch.