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Importing Gold Into The Uk

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Apologies if this question has already been asked.

I never thought I would do this but I am planning to buy some physical gold in France or Switzerland and bring it back to old Blighty.

I understand you have to declare your purchases to Customs & Excise when you buy gold in the UK, would you have to do the same when bringing back gold from abroad? I am also wondering about tax implications, VAT or somesuch.

I'd be grateful for some advice from someone knowledgeable about these matters.

TIA

William

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Apologies if this question has already been asked.

I never thought I would do this but I am planning to buy some physical gold in France or Switzerland and bring it back to old Blighty.

I understand you have to declare your purchases to Customs & Excise when you buy gold in the UK, would you have to do the same when bringing back gold from abroad? I am also wondering about tax implications, VAT or somesuch.

I'd be grateful for some advice from someone knowledgeable about these matters.

TIA

William

There is no VAT on gold in the UK, although there is on first habd silver.

I have never heard you need to declare to HMRC all gold purchases (and find this difficult to believe). Over 10 grand and you might need to as I have heard something about such purchases requiring further personnal details.

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Over 10 grand and you might need to as I have heard something about such purchases requiring further personnal details.

Thanks, much appreciated. I heard the above too and that looks to me like a registration process.

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Thanks, much appreciated. I heard the above too and that looks to me like a registration process.

Gold? What gold? if you get my drift. How much you buying?

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If you buy over $5k in one purchase or over £10k in a year, the vendor will want your details. Part of the money laundering, anti-terrorist BS. Easy to get around by buying from multiple dealers. I carried an awful lot more gold than that over to France in my car without being stopped. There is no VAT on gold anywhere in the EU and no restrictions on it's movement.

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If you buy over $5k in one purchase or over £10k in a year, the vendor will want your details. Part of the money laundering, anti-terrorist BS. Easy to get around by buying from multiple dealers. I carried an awful lot more gold than that over to France in my car without being stopped. There is no VAT on gold anywhere in the EU and no restrictions on it's movement.

Thanks for that. My idea is to buy (more than £10k) abroad to avoid giving my details to anyone here and bring it back. I have an instinctive distaste for anyone taking my name and keeping it on record.

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Thanks for that. My idea is to buy (more than £10k) abroad to avoid giving my details to anyone here and bring it back. I have an instinctive distaste for anyone taking my name and keeping it on record.

There are cash and carry dealers if you look around in this country.

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There are cash and carry dealers if you look around in this country.

The French are more regulated and the swiss have a reputation and since I read about the Chinese tungsten business I don't trust anyone. And I can get gold with 1.5% commission in France or less in Switzerland.

Hence my preference, not discounting this business of having to give your name to a dealer in the UK, which I don't like at all. Reminders of 1933 spring to mind, the fact that the UK is bust and might soon be in great need of hard currency, etc. It's not because I'm getting paranoid that they won't all be out to get me... and all that :).

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The French are more regulated and the swiss have a reputation and since I read about the Chinese tungsten business I don't trust anyone. And I can get gold with 1.5% commission in France or less in Switzerland.

Hence my preference, not discounting this business of having to give your name to a dealer in the UK, which I don't like at all. Reminders of 1933 spring to mind, the fact that the UK is bust and might soon be in great need of hard currency, etc. It's not because I'm getting paranoid that they won't all be out to get me... and all that :).

i'm saying that i have bought in cash with no details at spot in the uk. look around.

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i'm saying that i have bought in cash with no details at spot in the uk. look around.

I have. I could do with a clue?

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  • 276 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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