wazandy
New Member
🗨️ 131
👍🏻 8
September 2006
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Want to buy Banksy prints tax free?, by wazandy on Dec 11, 2007 6:03:35 GMT 1,
Here's a response to the fact that no matter how many people I happily respond to, my negs are -13!!
Anyway. Here's an idea.
Get in touch with one of the numerous companies that rent art out to the corporate community (big ones pay loads for prints they can hang up all over the place without actually buying them.)
Offer them some of your prints, which, if you're lucky might get rented for a while by a company - you get paid for this by the way.
Alternatively, start your own company with some Banksy holding mates and do it yourself.
Bottom line is this.
Every single print, original or otherwise, you buy now becomes a tax write off - as it's the sole reason for your business idea.
Thus, you get all your prints at near to half price when you do your tax.
Sure, you might have to lose some prints for six months or so, but they're fully insured, you get paid and in a year or two, you get them back and your collection could increase by twofold.
God, a positive at least for a good idea!
Here's a response to the fact that no matter how many people I happily respond to, my negs are -13!!
Anyway. Here's an idea.
Get in touch with one of the numerous companies that rent art out to the corporate community (big ones pay loads for prints they can hang up all over the place without actually buying them.)
Offer them some of your prints, which, if you're lucky might get rented for a while by a company - you get paid for this by the way.
Alternatively, start your own company with some Banksy holding mates and do it yourself.
Bottom line is this.
Every single print, original or otherwise, you buy now becomes a tax write off - as it's the sole reason for your business idea.
Thus, you get all your prints at near to half price when you do your tax.
Sure, you might have to lose some prints for six months or so, but they're fully insured, you get paid and in a year or two, you get them back and your collection could increase by twofold.
God, a positive at least for a good idea!
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wazandy
New Member
🗨️ 131
👍🏻 8
September 2006
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Want to buy Banksy prints tax free?, by wazandy on Dec 11, 2007 6:47:18 GMT 1, Thanks for that. I'm now one point less despised.
lol.
Thanks for that. I'm now one point less despised.
lol.
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wazandy
New Member
🗨️ 131
👍🏻 8
September 2006
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Want to buy Banksy prints tax free?, by wazandy on Dec 11, 2007 7:14:06 GMT 1,
Just as an addition:
Once you've started your pseudo company, start mailing companies like ad-agencies, post-production companies and PR companies. They love this stuff and it gives them that modern edge.
Remember, all it takes is one company to actually pay you to hang your Banksy and you've got a business.
And then, all other prints are legitimate business expenses.
For me in Australia with 47% tax (oh yes..) it means I could feasibly buy prints for half price.
Sounds odd yes, but hell, if it means doubling your prints - why the hell not eh?
If any of the Brit forum members got together - you'd have a pretty awesome library to start a company like this.
Again, just a thought.
Just as an addition:
Once you've started your pseudo company, start mailing companies like ad-agencies, post-production companies and PR companies. They love this stuff and it gives them that modern edge.
Remember, all it takes is one company to actually pay you to hang your Banksy and you've got a business.
And then, all other prints are legitimate business expenses.
For me in Australia with 47% tax (oh yes..) it means I could feasibly buy prints for half price.
Sounds odd yes, but hell, if it means doubling your prints - why the hell not eh?
If any of the Brit forum members got together - you'd have a pretty awesome library to start a company like this.
Again, just a thought.
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ABC
Artist
Junior Member
🗨️ 5,533
👍🏻 1,923
August 2006
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Want to buy Banksy prints tax free?, by ABC on Dec 11, 2007 11:15:34 GMT 1, I have an art buisiness for my own art, It seems you can only claim VAT back on art if you are charged it in the first place.
I have an art buisiness for my own art, It seems you can only claim VAT back on art if you are charged it in the first place.
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dslug
New Member
🗨️ 616
👍🏻 2
September 2007
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Want to buy Banksy prints tax free?, by dslug on Dec 11, 2007 11:46:08 GMT 1, I have an art buisiness for my own art, It seems you can only claim VAT back on art if you are charged it in the first place.
T'is true,but you are charged it.On the recent dface releases there was vat on the invoice.
I have an art buisiness for my own art, It seems you can only claim VAT back on art if you are charged it in the first place. T'is true,but you are charged it.On the recent dface releases there was vat on the invoice. |
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nickc
New Member
🗨️ 402
👍🏻 2
August 2007
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Want to buy Banksy prints tax free?, by nickc on Dec 11, 2007 11:52:57 GMT 1, And then when you actually want to sell the art, it is registered to a business and not to you personally. Therefore, any increase will probably be subject to capital gains tax and the business would be under a legal obligation to sell to you at it's full market value, not at the price you originally paid for them. Just a thought.
And then when you actually want to sell the art, it is registered to a business and not to you personally. Therefore, any increase will probably be subject to capital gains tax and the business would be under a legal obligation to sell to you at it's full market value, not at the price you originally paid for them. Just a thought.
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top
Junior Member
🗨️ 2,486
👍🏻 4
November 2007
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Want to buy Banksy prints tax free?, by top on Dec 11, 2007 11:53:26 GMT 1, ..indeedy dslug
..indeedy dslug
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