Can I buy silver VAT free and as a company asset?

[FutureTimes]

Hi all. I have a limited company registered for VAT and flat rate VAT. I wan't to buy some physical silver VAT free. Is it ok to do so and store them as a company asset?

[PurpleGorilla]

Can I buy silver VAT free and as a company asset?

Will they be stored next to your gold throne?

[TykeMerc]

I'd have thought a trader in precious metals would know how to treat their VAT liabilities.

Or is this nothing to do with your actual business? In which case how is it a business expense?
On the FRS there's a minimum spend required before you reclaim VAT (on computer gear it's £2k) I don't know if there's any special treatment on silver.

[northernladuk]

I am assuming you have read articles like these...

VAT Free Silver | Tax Free Silver | Buy Tax Free Silver | Buy VAT Free SilverBullion Price

Do I have to pay VAT on my silver purchase? - The Real Asset Company

Surely if you are going to be speculating on stuff like this you might have done a modicum of research first?

I am hoping you have consulted with an IFA and your accountant first as well. Silver seems a tad volatile at the moment and you will be paying CT on the profits of it so doesn't look like a great idea to me at the moment.

[DonkeyRhubarb]

Why do you want to buy Silver?

Precious metals are in the midst of a vicious bear market.

[andyc2000]

Why do you want to buy Silver?

Precious metals are in the midst of a vicious bear market.

Wide speculation on the future price of silver - most silver currently invested is 'on paper' only and doesn't exist in real life - you could describe it as a fiat currancy - not sure if that's pushed the price down but historically it's been 5:1 silver to gold, that may or may not return.

There is a company based in the EU that will ship silver to you VAT free. Just look for a celtic gold type company not based in the Isle of Man.

[Zero Liability]

Why do you want to buy Silver?

Precious metals are in the midst of a vicious bear market.

Bear markets are a good time to buy an asset, but I assume you mean it has much further to fall.

[SpontaneousOrder]

I bought physical silver until the VAT man pinged me. I doubt you'll have much luck.

[SpontaneousOrder]

If you buy it somewhere like Germany at 7% ish, and actually drive there to pick it up, then you can get away with paying the 7%. VAT treaty of some sort.

[Zero Liability]

The only way to avoid VAT on it I guess is to have it stored in Guernsey or Jersey, and I suppose if you went and collected it from there. At least with gold, if you buy gold sovereigns (at a slight premium over the spot price, c. 4 - 5%), these are presently exempt from the CGT, so if gold (for whatever reason, e.g. re-monetisation, divergence between paper & physical markets etc) did massively appreciate, you'd avoid any taxes on them, but this is not the case for silver coins. As others have stated, I wouldn't really see the benefit of putting them in a ltd company.

Wide speculation on the future price of silver - most silver currently invested is 'on paper' only and doesn't exist in real life - you could describe it as a fiat currancy - not sure if that's pushed the price down but historically it's been 5:1 silver to gold, that may or may not return.

There is a company based in the EU that will ship silver to you VAT free. Just look for a celtic gold type company not based in the Isle of Man.

How do they manage that?