VAT refund on silver bullion as a VAT registered company


A

ab220813

Hi,

I am a sole director and employee of a one-man VAT registered company. I voluntarily registered for VAT and my turnover does not exceed the VAT registration threshold. My company does technology-related consulting work.

I would like to convert my own cash savings (not from the company's accounts) into silver bullion.

Can you please advise me if it is lawful for me to buy silver with my own personal funds, and attempt to reclaim the VAT on the silver purchase by telling HMRC that this is a wealth preservation measure, to preserve the continuity 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 efficient way?

What reasons do HMRC find acceptable to refund VAT on silver purchases?

Thanks.

Adam
 
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