Lt company buying art

[electronicfur]

Can anyone tell me what the implications are if I want to use some of my Ltd company funds to buy (and possibly sell) artwork?

Cheers,
EF

[hugebrain]

I think if it's fairly casual you are better off owning art in your own name.

I asked my accountant about it and as well as paying more tax through the company there were some bizarre potential problems. e.g. if you look at any of the pictures the company owns then you could be charged tax on the "benefit in kind" for any enjoyment you got through looking at them.