Getting the Gold was the easy bit!!

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justinhcase

Well-known member
Supporting Member
Joined
Feb 12, 2014
Messages
1,751
Location
Exeter ,Devon ,U.K.
well just had an interesting conversation with my accountant.
He gave me some home studdy and compared to understanding Mrs Hoke it is like getting a Klingon to do needle point.
Only just satisfied the man of Tax that I was barley making any profit on the silver.(apparently they did not like me saving my little bit's of scrap to one side and was perturbed that they would have to wait untill the time I sell if ever(may just be inturned with it like a king of old.LOL) before they could have a cut).
So them just taking form direct sales was close to tax avoidance on my part according to one advisor.
Now I have to divid my Gold into three different Tax levels.
Direct sale's of Gold items,Investment Gold,and Industrial Gold,
I am not a bad improvisational Engineer and I can work most thing's out but keeping book's and keeping Mr Tax happy have never been a strong point.
Let's hope I can find a good Stock Accountancy program to keep track of every thing so I can satisfy there criteria and that any wind fall I manage to find is not eaten up by the big bad boy's above .
All that is on top of capital gains tax which is just an example of a farmer letting it's pig's get fat before eating them..LoL
Any one found a better way of operating with in the U.K. Tax Law??
 

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