Gold, silver and other precious metals can maintain special positions in the market in relation to tax regimes. Like many tax topics, this is a complicated subject. It is especially complicated because different types of precious metal products are treated differently.
Capital Gains Tax (CGT) with bullion
The Sovereign, Gold & Silver Britannia, The Royal Mint Lunar and The Queen’s Beasts ranges of Bullion coins are exempt from UK capital gains tax for UK residents only, due to being legal tender. You can find out more about how Bullion can help you steer clear of CGT in our Gold and Capital Gains Tax article.
Value Added Tax (VAT)
All gold bullion coins sold by Royal Mint Bullion including The Sovereign, gold Britannia, gold Lunar and gold Queen’s Beasts Bullion coins are VAT free for non VAT registered private individuals. The international ranges of gold bullion coins which are sold by The Royal Mint including The Krugerrand and Maple are also VAT free. Silver coins, regardless of the country of issue, are subject to VAT at the current rate of 20%.
For orders dispatched to countries outside of the EU, VAT will not be charged. These packages may, however, be assessed for import or customs fees, depending on the laws of particular countries. All invoices in respect of the products, services and storage or delivery (where applicable) for royalmint.com will be subject to VAT where applicable. VAT charges will be clearly shown where applicable.
Customs and Import Duties – Tax on bullion
Any order may be assessed for import or customs fees, depending on the laws of particular countries. Customers must comply with all laws and regulations of the destination country.
Customs or import duties are levied once the package reaches the destination country. Additional charges for customs clearance must be paid by the recipient; we have no control over these charges and cannot predict what they may be. Customs policies vary widely from country to country and you should contact your local customs office for more information.
Please be advised The Royal Mint are not tax advisers and any information provided on royalmint.com in connection with the tax status of the Products is provided for general information only and should not be relied upon; in particular, the underlying tax legislation is always subject to change. You should obtain any specific advice from your tax advisers.