Anyone on here invested MyCo money in art?
What are the things to consider when thinking about doing this?
Thanks in advance.
What are the things to consider when thinking about doing this?
Thanks in advance.
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Never has a man been heard to say on his death bed that he wishes he'd spent more time in the office. -
From an investment perspective one of the things to keep in mind with investing in art is that is typically a more long term game than other investments. If you're looking to profit from the activity you're likely to need a longer time horizon.
It would be interesting to hear from anyone who knows whether buying several art pieces as "decorative peices for your home / office" and then selling later at profit increases the scope or risk of your business for it to be considered as an investment / trading vehicle. -
If you think you're getting to get away with explaining to HMRC that the new painting you bought for the lounge is a tax deductible art investment you've got another thing coming.Originally posted by Scrag Meister View PostWhat happens in General, stays in General.You know what they say about assumptions!Comment
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OP can invest if they want, but you're almost certainly right about the tax deductible bit. It would surely be an asset and not one covered by capital allowances at that, wouldn't it?Originally posted by MarillionFan View Post
If OP is being serious, I suppose they can invest their post-tax company profits in this way if they wanted. Normal caveats regarding engaging in investment activity through YourCo probably apply.
But OP is surely kidding, right?Comment
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Shirley it's fink?Originally posted by tractor View Post
think
Don't believe it, until you see it!Comment
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