UK Silver Tax

C

Cheese Kun

New Member
I'm sure people have mentioned before that there is a 20% silver tax in the UK hence why I plan on buying my metal from Estonia but I can't seem to find a straight answer to a question I have which is does this apply to all types of silver bullion? For example ASE and SML are technically legal tender in their respective currencies and I can't imagine the "tax us till were dead" conglomerate slapping VAT and custom duty on someone receiving a package of paper money into the country. So can legal tender coins still be taxed?
 
Pretty sure they can and will be taxed unless they are given a specific exemption.

It is only legal tender when it suits the government. I can bring $10,000 into Australia without having any hassle, but if I were to bring 10,000 Kookaburras into the country, despite the face value of $10,000, then you can bet the government would want to get a slice of the pie.

On a side note, quite a few countries don't let you send money in the post, particularly to and from abroad.
 
Jislizard said:
Pretty sure they can and will be taxed unless they are given a specific exemption.

It is only legal tender when it suits the government. I can bring $10,000 into Australia without having any hassle, but if I were to bring 10,000 Kookaburras into the country, despite the face value of $10,000, then you can bet the government would want to get a slice of the pie.

On a side note, quite a few countries don't let you send money in the post, particularly to and from abroad.
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Okay thanks I'll have to put a but more research into it, trawling through the HM revenues and customs site for this specific information isn't easy but if it widens my silver buying options while screwing over the tax man I'm all for it.
 
Well good luck, but the tax man has a long history of having people trying to screw them over.

Send customs an email, probably the quickest way of finding out for sure. I have had to go through them before and they do respond to questions fairly well. Find out as well if really old coins can count as antiques or even if you have to pay VAT on second hand goods. I have had to pay duty on second hand goods which is apparently different from VAT, still had to pay it though.
 
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