I have a limited company client with 2 director/shareholders who have a reasonable amount of cash in the bank generated from some success in the building trade.
They have been looking at various investment opportunities and have decided that they would like to purchase classic watches as an alternative method of investment. The watches would be held securley in a display cabinet and not be used by any individual.
What are the accounting requirements for the company and the tax implications? I assume that the watches would be disclosed as an investment and any gains subject to CGT?