Disclaimer Form (Purchase of Business Asset for Personal Use)

[TheLensta]

Hi,

As stated in the subject I am looking for advice on the purchase of business assets for a personal user.

The item in question never gets used by the business and is only depreciating. If anyone knows of a form template that I could download and use for this situation it'll be much appreciated.

NOTE: This is based on UK law (I am unaware of how much difference there would be). Also, it is important that no liability is held by the seller.

Thanks

 

[Zigner]

Hi,

As stated in the subject I am looking for advice on the purchase of business assets for a personal user.

The item in question never gets used by the business and is only depreciating. If anyone knows of a form template that I could download and use for this situation it'll be much appreciated.

NOTE: This is based on UK law (I am unaware of how much difference there would be)

Thanks

I'm sorry, but this forum is for US law only. You would need to seek out a UK law forum.

 

[adjusterjack]

Hi,

As stated in the subject I am looking for advice on the purchase of business assets for a personal user.

The item in question never gets used by the business and is only depreciating. If anyone knows of a form template that I could download and use for this situation it'll be much appreciated.

NOTE: This is based on UK law (I am unaware of how much difference there would be). Also, it is important that no liability is held by the seller.

You'll have to make sure to confirm this in your country but my guess (even in the UK) is that a written bill of sale would suffice.

Be sure it properly describes the item with the manufacturer's model number and serial number from the ID label or plate.

Include something about the sale being AS IS with no warrantees or guarantees of any kind, express or implied.

Prepare two duplicates, have both signed by buyer and seller, each keep one.

The only real issue I can think of is if the seller financed it and still has a balance due on the item. I have no idea how you would confirm that in the UK.

 

[quincy]

You'll have to make sure to confirm this in your country but my guess (even in the UK) is that a written bill of sale would suffice.

Be sure it properly describes the item with the manufacturer's model number and serial number from the ID label or plate.

Include something about the sale being AS IS with no warrantees or guarantees of any kind, express or implied.

Prepare two duplicates, have both signed by buyer and seller, each keep one.

The only real issue I can think of is if the seller financed it and still has a balance due on the item. I have no idea how you would confirm that in the UK.

The laws in the UK are different than the laws in the US, often in significant ways. We handle US law questions only on this forum.

Here is a link to a UK law forum for TheLensta: http://www.thelawforum.co.uk/

TheLensta can also refer to the information on "VAT: private use and self-supply of goods and services" (https://www.gov.uk/guidance/vat-private-use-and-self-supply-of-goods-and-services) and "Expenses and benefits: assets bought, sold or given" ( https://www.gov.uk/expenses-and-benefits-assets-bought-sold-or-given/overview).