Hi Forum, If one had some numismatic 925 Ag and 916 Au coins as well as 999 and 9999 bullion Perth mint coinage of a combined face value less than $10,000 and wanted to take them with him to England for various purposes which may include gifts and or for selling purposes. Does he need to declare them as the total value is less than $10K Will he be subject to VAT? Can the items be confiscated? Could he be locked up in prison and violated in a way that dares not speak it's name? Has anyone had any experience in these matters (elaboration on the last question not necessary) Cheers Alfie
"Free import to passengers arriving from non-EU Member States (including the Canary Islands, Channel Islands, Gibraltar and similar territories): [..] 3. other goods (for air travellers) up to a value of GBP 390.-." Bullion and numismatic coins will surely be taxed without regard to face value. Not declaring and paying huge amounts of VAT is attempted smuggling. That is yes on all four questions.
I've onky took silverand gold out of the UK. I wouldn't even chance bringing any silver into the UK, your risking 20% VAT. Do yourself a favour and take .999 gold instead... No chance of VAT there!
edited, as I was wrong This is taken from the HMRC website, the most unhelpful website and organisation yet developed by man/womankind 8.1 Imports and acquisitions Imports and acquisitions (see section 16) of investment gold from a place outside the UK are exempt from VAT. But you must enter the transaction details on Customs Procedure Code form (CPC) 40 00 73 in order to gain the exemption. Further information on imports and acquisitions is given in Notice 725 The Single Market and Notice 702 Imports. http://customs.hmrc.gov.uk/channels...d=HMCE_CL_000104&propertyType=document#P9_204
Are you suggesting that you are taking in the order of 10,000 x $1 silver coins to keep the declared value under $10,000? That would weigh over 300 kg and be worth $350,000. You don't get advise for this of a forum!
Hi Sammy To save you some brain strain, $10, $25, $389 etc is actually less than $10,000! Knowing that items that have a value less than $10K, thought it would assist people when answering. Cheers Alfie
