Is there VAT on platinum coins?

Do you pay VAT on platinum coins?

Value Added Tax (VAT) is applicable for platinum coins and bars, and will be charged at the standard rate at the time of purchase.

Do you pay VAT on silver coins?

Unfortunately, the only bullion items exempt from VAT, (as of January 1st 2000), is investment gold. All other items, including silver bullion (bars and coins) and medallions of all metals are subject to VAT within the UK at the current rate, whether new or second hand.

Do you pay VAT on gold coins?

Most bullion in the United Kingdom is subject to Value Added Tax (VAT), which since 2011 has been at a set rate of 20%. … This means all of our gold bars and gold coins do not have any additional VAT charge on them.

Why do silver coins have VAT?

Conversely, silver bullion is subject to VAT, presently at 20% in the UK. Frequently, due to the VAT free status of investment gold, some investors believe that other precious metals are also exempt.

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Are gold coins VAT exempt?

All gold coins that have the same denomination (face value), size and gold fineness as those described at paragraph 2.1 and section 3, are exempt from VAT.

What is the price of platinum today?

MONEX Live Platinum Spot Prices

Platinum Spot Prices Today Change
Platinum Prices Per Ounce $1,072.00 -24.00
Platinum Prices Per Gram $34.47 -0.77
Platinum Prices Per Kilo $34,464.80 -771.60

Can you avoid paying VAT on silver?

Almost everything we buy in the UK is subject to VAT. There usually has to be a good reason for the government not to add VAT to a product, and silver & platinum are no different.

Can you avoid VAT on silver?

The bottom line. EU residents can easily avoid VAT on silver coins, and save money overall, by ordering from dealers in Germany, Estonia and Norway. … For UK buyers silver Britannia coins are exempt from UK Capital Gains tax (CGT). Don’t underestimate this benefit.

Is Silver tax free?

Yes. All coins produced by the Royal Mint that qualify as British legal currency are exempt from Capital Gains Tax. This includes all silver and gold Britannia coins and post-1837 gold sovereign coins, including proof sets. You can make unlimited tax-free profit on investments of any value on these coins.

How do I buy silver tax free?

You can buy gold and silver tax-free from Bullion Exchanges online if you are ordering from Alaska, Delaware, New Hampshire, Montana, and Oregon. These states do not impose any online sales tax as of 2020.

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How can I buy gold without VAT?

Since the 1st January 2000, the VAT Act 1994 exempts Investment Grade Gold from Value Added Tax. So as long as your purchased gold qualifies as Investment Grade, then no VAT will be charged. There are a few requirements for gold to qualify for an exemption: Firstly, it has to be in the form of a coin or a bar.

Is silver to go legit?

Avoid this company if from uk! You will get stung with custom charges. Brought 1kg of silver at a reasonable price above spot then 3 days after ordering received a invoice from ups for £180. There is nothing you can apart from pay it.

Do you pay tax on silver bars?

Silver bullion, bars and coins are normally taxed as collectibles, rather than capital gains. This pushes all profitable sales to a tax rate of 28 percent, which is much higher than the rate on long-term capital gains.

Why is some silver vat free?

VAT free silver in the real world

No physical product means no VAT, allowing you to claim profits from the full value by which silver rises over the period you own it. When you buy silver with us, you can request that the final product is held in storage for the length of time you choose to own it.

Do you pay tax on silver?

No sales tax collected on gold and silver purchases of $1,500 or more. Lower prices than most physical coin stores. Wide selection. 24/7 online ordering 365 days a year.

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