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On 25/07/2018 at 20:05, scubajunky said:

Has anyone here bought silver from the EU to avoid UK tax  ?

I looked into it and I don't think it's worth it.

Once the pound devalues, you won't care about having 5 or 10% more silver anyway, you'll just be glad you can still eat.

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On 25/07/2018 at 20:05, scubajunky said:

Has anyone here bought silver from the EU to avoid UK tax  ?

Yes, from Silver-to-go. No VAT on the Britannias. Absolutely no problems at all with payment, delivery or the coins.

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l know the silver bugs will probably be howling no, but in most cases, I think you would be best of buying a silver ETF that is backed by physical like PHAG. I actually own some physical in the form of American eagles and junk silver (inherited most, bought some myself). You end up paying over spot to buy silver, then you have to worry about storing them, and even if you do store them perfectly like I did, you find years later that some of the coins end up showing spotting, thereby reducing their value. Oh and when you finally do go to sell, in most cases, you will get less than spot, even if the coin is in perfect condition. 

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Doesn't hurt to have some physical but don't go banana's as it's only so liquid and very volatile

https://www.coininvest.com/en/silver-coins/britannia/1-oz-britannia-silver-2018/

Same company as silver-to-go i think. Both german companies able to get around the VAT issue (legally). Used them in feb and they were great

 

30 minutes ago, Roman Roady said:

i thought all PMs were subject to EU tax....albeit 0% on the yellow stuff

It seems that the german traders must pay vat on the profit they make rather than the sale value so it is pennies in comparison

Edited by afly

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Yup gold not subject to VAT in this country.

i believe it’s still viewed as a currency in its own right. How outrageously old fashioned is that? Buy bitcoin it’s the new gold!😊

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On 28/07/2018 at 08:44, Fishfinger said:

Yup gold not subject to VAT in this country.

i believe it’s still viewed as a currency in its own right.

UK legal tender is not subject to capital gains tax, hence the big advantage of gold and silver Britannias over bar and foreign coins for UK investors.

Unfortunately, the thieves in the government still apply VAT to silver, even in legal tender form. This is just a cost you have to swallow.

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1 minute ago, ashnono said:

Ha,  If you want to pay CGT sure go for it. I just don't post ever more of a reader,  which looks like i better go back to.

Sorry forgive me you're correct,  well done.

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23 minutes ago, ashnono said:

Actually no you're not if you want it delivered which I do.

VAT and CGT are two different taxes 

VAT is payable on delivery for all silver, but not gold. Within the EU, the VAT rate of the sale country is applied, however, foreign sellers will usually charge a UK premium gouge, as they know you would otherwise have to pay higher VAT.

CGT is payable on sale (disposal) of all silver and gold EXCEPT for legal tender coins i.e. Britannias & Sovereigns.

Goldcore is terrible value compared to Baird, which is the best I have found. I have heard Hatton Garden Metals were quite good, although their London vault was broken into and robbed fairly recently.

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52 minutes ago, Locke said:

VAT and CGT are two different taxes 

VAT is payable on delivery for all silver, but not gold. Within the EU, the VAT rate of the sale country is applied, however, foreign sellers will usually charge a UK premium gouge, as they know you would otherwise have to pay higher VAT.

CGT is payable on sale (disposal) of all silver and gold EXCEPT for legal tender coins i.e. Britannias & Sovereigns.

Goldcore is terrible value compared to Baird, which is the best I have found. I have heard Hatton Garden Metals were quite good, although their London vault was broken into and robbed fairly recently.

£7256  for 500oz of shiney new 2018 Britannias delivered to my door from Goldcore

£8034 for 500oz of 2015 Sheep delivered to my door from Baird

How is that terrible value?

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53 minutes ago, ashnono said:

£7256  for 500oz of shiney new 2018 Britannias delivered to my door from Goldcore

£8034 for 500oz of 2015 Sheep delivered to my door from Baird

How is that terrible value?

You forgot to add VAT.

Goldcore price is £8672.4 + delivery

Baird price is £8022 + £70 delivery

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58 minutes ago, ashnono said:

shiney new 2018 Britannias

If you care about the year more than the melt value, then you do not understand the point of buying silver.

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14 minutes ago, Locke said:

You forgot to add VAT.

Goldcore price is £8672.4 + delivery

Baird price is £8022 + £70 delivery

No,  £7256 is the price to your door.  I bought some last month.  I don't care whats on the face of my coin as long as its CGT free.  Oh and it was free delivery.  Guess you are right though.

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27 minutes ago, ashnono said:

No,  £7256 is the price to your door.  I bought some last month.  I don't care whats on the face of my coin as long as its CGT free.  Oh and it was free delivery.  Guess you are right though.

Hmmmmm. My apologies then, but I would be very cautious about buying supposed "VAT-free" silver.

What really sets alarm bells off for me is that their vault price is the same as their delivery price. Something doesn't smell right there and I would want to know exactly how they are able to circumvent the tax law.

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7 hours ago, scubajunky said:

So if you guys had say £70k in the bank as liquid asset.

How much gold and silver would you hold  ?

25% gold

25% long term gilts

25% shares

25% cash/money in the bank

thats the permanent portfolio approach anyway. 

my % are hugely off at the moment (buying a house) but I always have a good % in gold/bitcoin as insurance. 

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  • 301 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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