Originally posted by Lance
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Reply to: Buying gold via Ltd?
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Previously on "Buying gold via Ltd?"
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Originally posted by agility View Post
Did any of you end up buying gold? if yes, how did you go about? was it bullionvault or was it physical gold that you went with?
They are VAT free and no CGT needs to be paid when you sell. That's the only gold like that.
Buy it direct from the Royal Mint.
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Originally posted by pdanek View Post
Hello,
Can I please ask how did you avoid turning your trading company into investment company?
Unlike trading company, investment company doesn't have the 10% ER (Entrepreneurs relief) on tax when closing the company.
I would like to also buy gold and/or silver, but my accountant told me:
"We would not typically recommend investing directly through the limited company.
This is because if 20% or more of the company’s assets/income/expenses/time is involved in investments, the company’s status will change from a trading company to an investment company. As an investment company you would lose your entitlement for entrepreneur’s relief upon closure (on which our tax planning is based)."
Did you find some alternative way to do this please?
Or anyone else?
Thanks,
Peter
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Originally posted by ratewhore View PostI bought gold through my company using bullionvault. Confused the hell out of the accountants who tried to tell me it was personal and I had to declare it as a dividend. That was before I pointed out that you can only pay back into the account it came from i.e. the company bank account so they were talking out of their hoop!!
Can I please ask how did you avoid turning your trading company into investment company?
Unlike trading company, investment company doesn't have the 10% ER (Entrepreneurs relief) on tax when closing the company.
I would like to also buy gold and/or silver, but my accountant told me:
"We would not typically recommend investing directly through the limited company.
This is because if 20% or more of the company’s assets/income/expenses/time is involved in investments, the company’s status will change from a trading company to an investment company. As an investment company you would lose your entitlement for entrepreneur’s relief upon closure (on which our tax planning is based)."
Did you find some alternative way to do this please?
Or anyone else?
Thanks,
Peter
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Originally posted by oilyrag View PostCannot remember correctly on UK position on bullion investments, but i think you need to pay VAT on Silver, hence it never took off in the UK as an investment vehicle for the common peasant. Need Swiss accounts etc.
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Whoa!!
There are court cases ongoing at the moment that stemmed from the attempt on the life of the Goldman Sachs trader who reported HSBC and JPMorgan alleged manipulation of the bullion markets. The ETFs are subscribed at a ratio of 100/1, just takes a tiny run on precious metal, ie a few bods rocking up to the bank and demanding physical delivery and all kinds of hell will ensue.
The mainstream press tried to supress this for ages, but it eventually broke through rumour then financial press, then mainstream:
Ex-Goldman trader blows whistle on silver and gold manipulation by JPMorgan, HSBC - NYPOST.com
Silver price manipulation: 'public deserves answers' - Citywire
Sunday NY Post Publishes Maguire Silver Manipulation Evidence - DaveInDenver - Seeking Alpha
Cannot remember correctly on UK position on bullion investments, but i think you need to pay VAT on Silver, hence it never took off in the UK as an investment vehicle for the common peasant. Need Swiss accounts etc.
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I think gold will still have most perceived value in a time of a real crisis.
It's certainly heavy and it 'feels' expensive, so I'll stick to gold, thank you and like I said one that my Ltd physically has.
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Originally posted by d000hg View PostCan't you buy 'real physical' gold without having to ever see it... aren't there companies who will hold it for you so the asset is real but not in your house?
As for silver... you'd need a lot more for the same value which might be a pain for storing.
What about platinum?
Just a thought...
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Can't you buy 'real physical' gold without having to ever see it... aren't there companies who will hold it for you so the asset is real but not in your house?
As for silver... you'd need a lot more for the same value which might be a pain for storing.
What about platinum?
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Originally posted by hgllgh View PostYou can invest in Gold funds that hold physical Gold for you and you just buy a share of the Gold ...
I'd want to "see the money" so to speak.
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I bought gold through my company using bullionvault. Confused the hell out of the accountants who tried to tell me it was personal and I had to declare it as a dividend. That was before I pointed out that you can only pay back into the account it came from i.e. the company bank account so they were talking out of their hoop!!
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AFAIK, silver is traded the same way as gold. Traditionally gold bullion is held to back up currencies. But from an investment point of view, you can buy any precious metal (or property, etc)…they should be treated the same way.
Like I said, I’m buying from savings, so not looked into the company aspects of it…
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Originally posted by sal626 View PostI’m looking to do the same, this very week in fact…except from personal account…
Another option you have is to get a locker at a bank to store the gold.
Also, consider silver – this is predicted to rise sharply as well…[/QUOTE]
Isn't silver different? I thought gold was considered a currency whereas other commodities are not which makes a difference to something or other to do with tax/profits etc? Just something I remember but don't know the details hence the question.
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I’m looking to do the same, this very week in fact…except from personal account…
Another option you have is to get a locker at a bank to store the gold.
Also, consider silver – this is predicted to rise sharply as well…
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Thanks for the valuable answers, looks good so far.
Originally posted by hgllgh View PostYou can invest in Gold funds that hold physical Gold for you and you just buy a share of the Gold ... I think they are ETF funds. I'm thinking of doing the same as the Gov\BoE are deliberately devaluing the pound
I haven't yet looked into setting up a share dealing account for my Ltd Co either...
But one day I will have a big enough portfolio to use these too
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