Originally posted by DaveB
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Reply to: Business warchest - buying gold etc
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Previously on "Business warchest - buying gold etc"
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Originally posted by northernladuk View PostAnd do you understand fully the implications of buying it through your LTD? tax implications, changing the nature of your business to investment if the amount you hold exceeds a certain amount, not buying it with money that is not yours i.e. what you owe corp/vat yadda yadda.
cheers
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Originally posted by Bumfluff View PostHi DaveB yes thats what I wanted to do was looking at 6-12 months minimum investment. I couldnt work out the site though
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Originally posted by DaveB View PostPlaces like bullionvault are not really for speculation, they are aimed at longer term investment. Buy it, hold onto it for 6 months or more and then sell at a profit.
If you want to speculate on the short term price of gold you are better of going to one of the spread betting sites and placeing bets on the price movements.
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Originally posted by Bumfluff View PostHow did you purchase it did you use bullionvault.com at all or has anyone else used them ? I registered with them last week you get the free 1gram to buy and sell which I had a go with, sold it then found I couldnt afford to buy anymore with the £ I had, I really can't figure out how to use the site, the user guides were pretty poor and didnt give me enough confidence to know what I was doing without making an expensive mistake.
Anyone got a dummies guide to bullionvault ?
If you want to speculate on the short term price of gold you are better of going to one of the spread betting sites and placeing bets on the price movements.
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Originally posted by ACAB View PostI have gold. There is in my opinion no single currency that is worth investing in. Property is crashing everywhere and the financial markets are in crisis over sovereign debt. China's economy relies on it lending money to the West to buy its own goods, so that's in trouble too. Gold has a long way to go.
Anyone got a dummies guide to bullionvault ?
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Originally posted by ACAB View PostI have gold. There is in my opinion no single currency that is worth investing in.
Property is crashing everywhere
the financial markets are in crisis over sovereign debt.
China's economy relies on it lending money to the West to buy its own goods,
so that's in trouble too.
Gold has a long way to go.
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Originally posted by Fred Bloggs View PostYou're too late, IMO.
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Originally posted by psychocandy View PostGold 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?
You will still be liable for CT on the profits.
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Long live the search facility...
http://forums.contractoruk.com/accou...via-ltd-1.html
http://forums.contractoruk.com/accou...-buy-gold.html
http://forums.contractoruk.com/accou...4222-gold.html
One day young padawan you might use it.Last edited by northernladuk; 2 August 2011, 14:42.
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Buy old knackered properties and do them up...oh hang on....too late for that one as well
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Originally posted by psychocandy View PostGold 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?
As our resident expert on gold buying/selling, I'm expecting DP will be along to explain the VAT position of gold purchases and sales.
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Business warchest - buying gold etc
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?Tags: None
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