Gold seems to be doing quite well at the moment. I guess theres no reason why you cant convert the cash sitting around in your business account at 0% into Gold.
In the last 60 days, its returned about 20%, in the last 5 years well over 300%. Obviously, not guaranteed.
What are the implications of making a few quid this way? Assuming any profit is subject to CT but what about flat rate VAT?
If you, say, in a month convert gold back to cash in any given quarter, does any profit you make become liable to flat rate vat as income? I think I'm right in saying that bank interest does, so I guess this is similar?
In the last 60 days, its returned about 20%, in the last 5 years well over 300%. Obviously, not guaranteed.
What are the implications of making a few quid this way? Assuming any profit is subject to CT but what about flat rate VAT?
If you, say, in a month convert gold back to cash in any given quarter, does any profit you make become liable to flat rate vat as income? I think I'm right in saying that bank interest does, so I guess this is similar?
Comment