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New queries, issue 4276

Gold investment; wills and CGT implications; inheritance and CGT shares; and family loan agreements

All that glistens

Several of my clients have been asking me about the possibilities of investment in gold.

My understanding is that an individual investing in gold coins is exempt from capital gains tax but is this the case if the investment is made by a business?

Several partnerships and limited companies have ‘spare’ cash at the moment which is earning very little in the way of interest.

If these funds are used to purchase gold can readers advise on the direct and indirect tax implications?

Would HMRC say that investment by a business was trading?

One client has recently returned from the Middle-East and has asked about purchasing gold or gold coins abroad.

Again would the tax treatment of this follow the same rules as if the purchase was made in the UK or are there differences?

Can readers provide some clarification?

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