Hi,
I am a sole director and employee of a one-man VAT registered company. I vo luntarily registered for VAT and my turnover does not exceed the VAT regist ration threshold. My company does technology-related consulting work.
I would like to convert my own cash savings (not from the company's account s) into silver bullion.
Can you please advise me if it is lawful for me to buy silver with my own p ersonal funds, and attempt to reclaim the VAT on the silver purchase by tel ling HMRC that this is a wealth preservation measure, to preserve the conti nuity of my business, in the event of a run on the GBP?
If not, what is the proper way to buy silver through my company in a tax ef ficient way?
What reasons do HMRC find acceptable to refund VAT on silver purchases?
Thanks.
Adam