Tax: Putting assets into a new company?

[sebby]

A friend and I are looking to start a small investment holding company in the United Kingdom. He has some personal assets to put in and so do I. My asset is a gemstone which cost $3k a few years ago and is still worth about $3k.

We would like to know how to go about getting these assets into the company without incurring corporate tax liabilities.

We want to ensure that the assets are recorded at the current market price so that when we come to sell them the sale price is not recorded as pure profit. How do we do this?

Oh yeah and, I do not have proof of purchase for the asset. I got it on ebay and the only proof I have is an auction number.

Thanks in advance.
It looks like 'PW' just read the title and not the body of the question? My question concerned the sale of assets.

Someone please answer!

[PW]

You don't pay corporation tax on assets that you introduce into a company.

If you sell the asset to the company at its current market value, then the company will only pay tax on any increase over and above that value.  You can do this by the company paying you for the gemstone, or as a book entry.