Buying gold via UK based LTD company

[StanTheMan]

Good Evening.

I am wondering if anyone can point me in the right direction.

I am thinking about investing my LTD company money in UK gold and platinum bullion coins, which I belive are CGT Tax exempt.

The plan is to invest a certain ammount of money every month for long term (several years).

I did not discuss that with my accoutant yet, just doing some "due diligence" in here.

What would be tax implication for the above investment?

What is the best way my accountant can present the investment to HMRC?

Will my company have to pay taxes / charges anually for any reason when holding the bullion or the tax may be possibly applied only after gold will be sold?

Many thanks for all constructive comments, any links to websites with info regarding the above matter will be also much appreciated!

 

Regards, Stan.

 

[Clens92]

I'm not overly sure why you would want to?  CGT Tax would apply to an individual too, so there wouldn't be any additional benefit to buying through a company.  Only UK-currency coins are CGT exempt: Sovereigns, Britannias - not foreign made coins.

Wouldn't putting the gold in a company also then leave it liable to being used to clear any debts / claims against the company? 

 

 

[KitboyE17]

Perhaps talk to someone at Goldcore https://www.goldcore.co.uk/ they specialise In corporation investment 

[Martlet]

I suspect you'd pay taxes on profit made when taking out of the business, negating the CGT exemption. 

[Pottedbeef]

31 minutes ago, StanTheMan said:

Good Evening.

I am wondering if anyone can point me in the right direction.

I am thinking about investing my LTD company money in UK gold and platinum bullion coins, which I belive are CGT Tax exempt.

The plan is to invest a certain ammount of money every month for long term (several years).

I did not discuss that with my accoutant yet, just doing some "due diligence" in here.

What would be tax implication for the above investment?

What is the best way my accountant can present the investment to HMRC?

Will my company have to pay taxes / charges anually for any reason when holding the bullion or the tax may be possibly applied only after gold will be sold?

Many thanks for all constructive comments, any links to websites with info regarding the above matter will be also much appreciated!

 

Regards, Stan.

 

Stan, as an accountant I would recommend speaking to your accountant. There are countless situational permutations based around your own personal circumstances and no amount of research will get you to a satisfactory answer. I wish you luck though.

[sixgun]

i very very much doubt you will find capital gains in gold through a company holding will be tax free. They will be classed as part of your profits when the gold is sold and will be taxed.
There are always ways of dodging the tax bullets if you are inventive and adventurous and there is enough to warrant the effort but a straight buy gold onto the company balance sheet won't be one of them. 
If you can get the loot out of the company with minimal to no damages and then put it into gold then that would be better.

ps most accountant i have found are not particularly inventive or adventurous.

[dicker]

I looked into this a few years ago and was put off by the enormous complexity and room for HMRC to chose how to treat it. 
 

Plus...and this was the kicker I believe you have to list it as a company asset / investment....  Given these are all public documents I did not want to list it as an asset and become a potential “target” for thieves.  
 

I am VERY happy to be corrected by an accountant, but that is what my accountant at the time advised.

Best

Dicker