closing down the business
Dear Sir or Madam,
I am self-employed and run a dental laboratory, a small business, using the simple income-surplus calculation method, not as a small business owner. Next year, I will retire and close down the business. Now my question:
The laboratory is located in an outbuilding, consisting of one room, not particularly large. The residential house and outbuilding belong to me (following the death of my husband) and my brother-in-law, each owning half without any usage agreements.
Up to now, the laboratory has not been included in the accounting records, but it is clearly necessary business assets. Should it be included in the business closure, and if so, only with my half share or entirely? Could there be disadvantages if I do not include it? I wouldn't want the tax office to say that I didn't completely liquidate and deny me the tax-free allowance.
Can I transfer everything (room, vehicle, machines) into my personal assets? I am not interested in using eBay or newspaper ads. I would rather scrap old items and leave the rest. The room used to be a hobby workshop and will become one again.
