When goods and services are traded in the UK, they’re usually subject to a standard VAT rate. Value added tax rates are currently 20%, with certain items, such as home energy, offered at a reduced rate of 5%. However, some are completely exempt from any VAT, including gold. This hasn’t always been the case; prior to the 1st of January 2000, gold was taxed at the standard rate.<\/p>\n
In the European Union, VAT treatment of gold has varied widely in the past and resulted in quite a distortion of competition. For a few years the UK was placed at a disadvantage as many other Member States made their gold trade exempt from tax, or placed it at a very low rate. Due to this, the EU introduced one singular system for the treatment of gold in terms of VAT. This became the VAT Act of 1994, which encompasses bullion and certain coins.<\/p>\n
VAT Notice 791\/21A states that investment in gold coins covers the exemption of gold coins from VAT. To be treated as an investment, coins should have a purity of no less than 900 thousandths, is or previously has been legal tender in the country of origin, and is usually sold at a price not exceeding 180% of the open market value. The government have more information and publications regarding this VAT notice if you would like to read more.<\/p>\n
If you wish to buy buy gold coins or any other kind of bullion in the UK, we are here to supply you with the widest range of choices to suit many needs and budgets. We know security is paramount for investors looking to buy gold coins, and we offer a name you can trust paired with safe delivery. All items are sent through fully insured delivery specialists to ensure that you receive your goods on time without fault. Contact us for further information.<\/p>\n","protected":false},"excerpt":{"rendered":"
When goods and services are traded in the UK, they’re usually subject to a standard VAT rate. Value added tax rates are currently 20%, with certain items, such as home energy, offered at a reduced rate of 5%. However, some are completely exempt from any VAT, including gold. This hasn’t always been the case; prior to the 1st of January 2000, gold was taxed at the standard rate. In the European Union, VAT treatment of gold has varied widely in the past and resulted in quite a distortion of competition. For a few years the UK was placed at a disadvantage as many other Member States made their gold trade exempt from tax, or placed it at a very low rate. Due to this, the EU introduced one singular system for the treatment of gold in terms of VAT. This..<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[274,275],"tags":[],"yoast_head":"\n