Is There Any VAT On Gold Bullion?

Author: Ian Davis - Bullion Manager

Published: 14 Nov 2018

Last Updated: 19 Aug 2019

Is There VAT on Bullion?

Why buy gold now?

Currently one of the biggest reasons to choose gold is the fact HMRC currently regard the precious metal as exempt from VAT.

Buy Gold VAT Free!

VAT Notice 201/21A informs us that as of 1st January 2000, there is no value added tax payable on investment gold. This includes gold sovereignsKrugerrands, other bullion gold coins, and certain types of gold bars. This does include most gold coins which are normally sold at under 80% premium over their intrinsic metal value. This includes almost all modern gold coins, including all gold sovereigns and proof sovereigns. Click here to be taken to our product page where we have handpicked our best value tax free gold products. 

Here is a range of our top products that are exempt from VAT on gold. 

Bullion Sovereign Best Value - Secondary Market

ourchoicesecondarymarketsilver500-B-1

Stock Status - Available

Quantity Premium % Total
1
3.5
£282.50

Price Per Item:
£282.50
5
2.8
£1,402.95

Price Per Item:
£280.59
10
2.7
£2,803.20

Price Per Item:
£280.32
25
2.6
£7,001.25

Price Per Item:
£280.05
50
2.55
£13,995.50

Price Per Item:
£279.91
100
2.5
£27,977.00

Price Per Item:
£279.77
250
2.45
£69,910.00

Price Per Item:
£279.64
500
2.4
£139,750.00

Price Per Item:
£279.50
1000+
2.35
£279,360.00

Price Per Item:
£279.36

Bullion Sovereign Best Value - Newly Minted

Stock Status - Available

Quantity Premium % Total
1
4.5
£285.23

Price Per Item:
£285.23
5
3.8
£1,416.60

Price Per Item:
£283.32
10
3.7
£2,830.50

Price Per Item:
£283.05
25
3.6
£7,069.50

Price Per Item:
£282.78
50
3.55
£14,132.00

Price Per Item:
£282.64
100
3.5
£28,250.00

Price Per Item:
£282.50
250
3.45
£70,592.50

Price Per Item:
£282.37
500
3.4
£141,115.00

Price Per Item:
£282.23
1000+
3.35
£282,090.00

Price Per Item:
£282.09

1 oz Gold Coin Bullion Best Value Secondary Market

OurChoiceSecMarket500-B-1forweb

Stock Status - Available

Quantity Premium % Total
1
2.5
£1,188.74

Price Per Item:
£1,188.74
2
2.4
£2,375.16

Price Per Item:
£1,187.58
5
2.25
£5,929.20

Price Per Item:
£1,185.84
10
2
£11,829.40

Price Per Item:
£1,182.94
25
1.9
£29,544.75

Price Per Item:
£1,181.79
50
1.85
£59,060.50

Price Per Item:
£1,181.21
100
1.6
£117,831.00

Price Per Item:
£1,178.31
500+
1.5
£588,575.00

Price Per Item:
£1,177.15

1 oz Gold Coin Bullion Best Value Secondary Market In Capsule

OurChoiceOneOunceGoldCoin500-B-1forweb

Stock Status - Available

Quantity Premium % Total
1
3
£1,194.54

Price Per Item:
£1,194.54
2
2.9
£2,386.76

Price Per Item:
£1,193.38
5
2.75
£5,958.20

Price Per Item:
£1,191.64
10
2.5
£11,887.40

Price Per Item:
£1,188.74
25
2.4
£29,689.50

Price Per Item:
£1,187.58
50+
2.35
£59,350.00

Price Per Item:
£1,187.00

Silver is Taxable at 20%

Silver, on the other hand, is still subject to a 20% rate of VAT unless you buy on the special scheme. You can learn more about the special scheme by clicking here. 

It is hardly surprising, given how confusing HMRC's guidance can be, that many investors simply assume that silver, platinum and palladium are also VAT free. We try our best to educate where possible and answer any question you have either via live chat, email or on the telephone. 

VAT Free Silver

We sell VAT free silver which is bought outside of the EU for storage only, you will end up paying VAT if you have it delivered. Please read our blog on why buying physical bullion is our preferred means of ownership

Further Reading

You may wish to view all of our articles on our gold guide

Read more about capital gains tax on our blog here

This guide and its content is copyright of Chard (1964) Ltd - © Chard (1964) Ltd 2019. All rights reserved. Any redistribution or reproduction of part or all of the contents in any form is prohibited.

We are not financial advisers and we would always recommend that you consult with one prior to making any investment decision.

You can read more about copyright or our advice disclaimer on these links.