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FriedrichVonHayek

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  1. FriedrichVonHayek liked a post in a topic by SilverTrader in Customs Importation Codes   
    Hi Guys & Happy New Year
    I'll save you a little trouble
    I proved under UK law that Bullion coins are numismatics and should have the 5% vat applied not 20% I even won the Parliamentary complaint through the ombudsman against the UK borderforce for what it was worth However 
    HMRC then came back with under the European harmonisation process and due to a hidden apex in the European tax laws under which we all have to comply it is 20%
    European Law overrides UK law
    So untill Brexit happens its 20% afterwards however 5% :-)
    Sincerely martin
  2. FriedrichVonHayek liked a post in a topic by sixgun in Customs Importation Codes   
    I think the thing to do is to get the seller to put the code (numismatic collectible code 9705000020) AND state that these are COLLECTIBLE COINS.
    I think we need to make this a mission. I expect that HMRC has 100s of codes and are simply ignorant of these most of the time. 
  3. FriedrichVonHayek liked a post in a topic by Pete in Customs Importation Codes   
    If you could find on the Perth Mint website a description / promotional text that mentions the attractiveness, collectibility etc of each coin then that's a good start.
    I would guess there is a fair chance of getting the Lunars and Kooks through at the lower VAT but less so the Koalas unless privy marked, colorised or artistically modified in some way. Unfortunately there are no guarantees and often the decision is at the discretion of the person reviewing your claim but the more information you can provide to differentiate from a boring mass produced coin the better. Good luck with your approach - I may have to do this again soon with some carded Kangaroos that are on their way from Australia.
  4. FriedrichVonHayek liked a post in a topic by sixgun in Customs Importation Codes   
    Having scanned the emails in the links the key comment from the authorities is

    • Complaint [Protective Marking: PROTECT]‏

    complaintsteamwales@hmce.gsi.gov.uk (complaintsteamwales@hmce.gsi.gov.uk)
    Add to contacts
    17/05/2013 

    To: (name removed)@hotmail.co.uk
    •  
    From: complaintsteamwales@hmce.gsi.gov.uk You moved this message to its current location.
    Sent: 17 May 2013 13:53:21
    To: (name removed)@hotmail.co.uk
    Dear Mr (name removed)

    To clarify my earlier e-mail regarding the VAT applicable on the import
    of coins from the Channel Islands or from outside the EU.

    Coins which are of numismatic interest are classed as collectors' items.
    Such items are classified within the harmonised system with commodity
    code 9705 00 00 00.
    The effective VAT applicable to these coins at import is 5%. 

    I would class coins as of numismatic interest where they are traded at a
    value greater than the face-value as legal tender with the price
    dependant on factors such as condition and year of manufacture amongst
    others things.

    Coins such the Britannia Silver Coin, Canadian Silver Maple Leaf and US
    Silver Eagle Coin recently imported by you are collectors' pieces and as
    such VAT at import would be 5%

    Apologies if this information was unclear in my earlier email

    Regards

    Ian
     
    This communication goes beyond the antique coin [more than 100 years old]
    Where a coin is traded for more than the legal tender face value, where value is dependant on condition, year of mintage, mintage and so on, this officer would classify it as numismatic. As a numismatic [collectible] the coins are 5% VAT.
    Clearly almost every coin is numismatic b/c the value exceeds the legal tender face value and it exceeds the value of the metal content. 
    When the spot price of silver is £13 and the face value of a Britannia is £2 but you paid £20, where does the extra value come from? This can only come from the collectibility of the coin itself. 
    Antique coins look to be on the firmest ground but virtually every coin should have 5% VAT on them.
  5. FriedrichVonHayek liked a post in a topic by Clens92 in Customs Importation Codes   
    So far as I am aware, the code remains valid.  Whether it is correctly applied is another matter entirely.
    I might take the matter up in the New Year and ask HMRC for more clarity, and a Binding Tariff Ruling.  It could be a very useful way of importing numismatic coins.
  6. FriedrichVonHayek liked a post in a topic by sovereignsteve in Customs Importation Codes   
    I actually tried to contact them a few years ago to clarify these codes. I may as well have tried asking my dog for all the clarity it provided.
  7. Numistacker liked a post in a topic by FriedrichVonHayek in Should I get the 1/4 proof gold Queens Beast?   
    Wait a few years until they start to turn up at auctions.
    Let the mugs who buy it first take the hit,buying the latest Proof coin from the Royal Mint is like buying a new car in that you are certain to lose money as soon as you buy it.
    Like most of the Mints in the world they produce low mintage,rare coins and limited editions every month and have done for donkey's years.
    You might hit lucky with one from time to time, then again you can also get lucky now and again buying scratch cards but you will never recoup your money.
    If you love the coin and you are not bothered about losing money then buy it,if you are concerned that you might lose money then I wouldn't bother.
  8. FriedrichVonHayek liked a post in a topic by Gizmo in Minorities Attempt to Ban New £5 Polymer Note   
    I find it ironic that people care so much about a small portion of animal fat being in the bills when what we (as humans) do the Earth in general could be labeled as "parasitic" by definition.Bugs are ground up(accidentally) in your chocolate bar during production, the keyboard your typing on was made in a process that put toxic chemicals into the air, and people have fought wars just to obtains the same resources that bring you the electricity needed to read this post.
    There will never be an organism on Earth that doesn't destroy something else in order to survive. The laws of physics demand it! It seems silly to be worked up about the composition of a dollar once you look at the grand scheme of things.
  9. vand liked a post in a topic by FriedrichVonHayek in Best Semi Numismatic Coins of 2016 for investment   
    The Perth Mint consistently produce top quality coins,some of the other well known mints should be embarrassed of the low quality milk-spotted garbage they produce.
    The Royal Canadian Mint seems to be a serial offender and I would never buy any of their products again.
  10. FriedrichVonHayek liked a post in a topic by BaldyBob in Minorities Attempt to Ban New £5 Polymer Note   
    Surely they can just decline them if offered in their change. Why do the 99% always have to suffer for the rest?
    I wonder if they will be so keen to stick to their principles once they see the ingredients of those life saving drugs they need.
     
  11. Oldun liked a post in a topic by FriedrichVonHayek in Minorities Attempt to Ban New £5 Polymer Note   
    Its just another case of virtue signalling and cry-bullying by a tiny minority of the population that are permanently outraged over things that don't really matter.
    These kind of unimportant issues that are blown out of proportion are the reason that people voted for Brexit and Donald Trump in the U.S.
    The silent majority are pig sick of this kind of nonsense.
  12. Oldun liked a post in a topic by FriedrichVonHayek in Minorities Attempt to Ban New £5 Polymer Note   
    Its just another case of virtue signalling and cry-bullying by a tiny minority of the population that are permanently outraged over things that don't really matter.
    These kind of unimportant issues that are blown out of proportion are the reason that people voted for Brexit and Donald Trump in the U.S.
    The silent majority are pig sick of this kind of nonsense.
  13. Oldun liked a post in a topic by FriedrichVonHayek in Minorities Attempt to Ban New £5 Polymer Note   
    Its just another case of virtue signalling and cry-bullying by a tiny minority of the population that are permanently outraged over things that don't really matter.
    These kind of unimportant issues that are blown out of proportion are the reason that people voted for Brexit and Donald Trump in the U.S.
    The silent majority are pig sick of this kind of nonsense.
  14. Oldun liked a post in a topic by FriedrichVonHayek in Minorities Attempt to Ban New £5 Polymer Note   
    Its just another case of virtue signalling and cry-bullying by a tiny minority of the population that are permanently outraged over things that don't really matter.
    These kind of unimportant issues that are blown out of proportion are the reason that people voted for Brexit and Donald Trump in the U.S.
    The silent majority are pig sick of this kind of nonsense.
  15. FriedrichVonHayek liked a post in a topic by daz in Minorities Attempt to Ban New £5 Polymer Note   
    from what ive read vegetable tallow is made from palm oil , which is in pretty much everything these days and is one of the major reasons for deforestation around the world . 
    the majority of it is produced under very unethical methods , it contributes to the decline of many species including the orangutans in borneo and while i completely understand the objections of vegans and religions , personally i would rather use the animal fat tallow .
    whatever you use someone will have objections. 
  16. Oldun liked a post in a topic by FriedrichVonHayek in Minorities Attempt to Ban New £5 Polymer Note   
    Its just another case of virtue signalling and cry-bullying by a tiny minority of the population that are permanently outraged over things that don't really matter.
    These kind of unimportant issues that are blown out of proportion are the reason that people voted for Brexit and Donald Trump in the U.S.
    The silent majority are pig sick of this kind of nonsense.
  17. FriedrichVonHayek liked a post in a topic by sovereignsteve in Minorities Attempt to Ban New £5 Polymer Note   
    I appreciate your position in not wanting to be part of killing and eating animals but I don't understand the objection to a small amount of some waste product being used in this way. However, I am glad we can have a grown up debate on a subject such as this without throwing insults around. You are clearly a reasonable person but there are many loonies out there who would want to lynch me for expressing such views.
    The problem is that we get fed up with minorities seemingly having a disproportionate voice and overly influencing political and social issues. This seems to be another example.
    I would be quite happy if the new notes used a substitute to tallow, but it must be realised that this may have a cost. I would assume they used tallow as it was cheap and readily available. Anything else will surely be extracted from oil and that's not exactly eco friendly.
    Far better in my mind to use a (probable) waste product from food processing than pumping more oil.
    People just need to be reasonable.
    As a general observation on vegetarianism. I believe without killing, eating animals and using their skins and furs, mankind would not have survived and evolved into what we are now. You can take that as either a good or a bad thing!
     
  18. FriedrichVonHayek liked a post in a topic by motorbikez in Minorities Attempt to Ban New £5 Polymer Note   
    Effing ludicrous,
    (as my daughter would say 1st world problems),  this country is getting stupider by the day with banal trivialities being touted as something important.
  19. FriedrichVonHayek liked a post in a topic by Roy in Sharia Law and Gold   
    As for charging interest, I have no qualms about it.
    I've been charged interest all of my adult life. That's life.
    I receive up to 27.5% interest on my loans with Zopa. 
    I am charitable, there are a few close to my heart, but really charity begins and ends at home.
    I look after my own 
  20. FriedrichVonHayek liked a post in a topic by vand in whats going to make silver move much higher   
    Silver and all other hard assets will be repriced when the air finally leaves the inflated paper asset bubbles that have built up over the last 40 years, and the public perception for what is and what isn't deemed "safe" is irrevocably altered. Unfortunately nobody can say when that will be - the markets do not work to yours or my preferred timelines. Buy as much as you are comfortable to hold indefinitely - this should be true of any investment.
  21. Rich99 liked a post in a topic by FriedrichVonHayek in whats going to make silver move much higher   
    Precious metals are just insurance,who in their right mind gets excited at the prospect of their house burning down so they can claim on the insurance.
    Collecting coins can be great fun especially if you have bought coins that have risen in value after a few years.
    I certainly don't want to live in a world where the price of Gold and Silver is at all time highs as it means that something is seriously wrong with the worlds financial system,but I would be glad that I have got some should this occur.
  22. Rich99 liked a post in a topic by FriedrichVonHayek in whats going to make silver move much higher   
    Precious metals are just insurance,who in their right mind gets excited at the prospect of their house burning down so they can claim on the insurance.
    Collecting coins can be great fun especially if you have bought coins that have risen in value after a few years.
    I certainly don't want to live in a world where the price of Gold and Silver is at all time highs as it means that something is seriously wrong with the worlds financial system,but I would be glad that I have got some should this occur.
  23. Rich99 liked a post in a topic by FriedrichVonHayek in whats going to make silver move much higher   
    Precious metals are just insurance,who in their right mind gets excited at the prospect of their house burning down so they can claim on the insurance.
    Collecting coins can be great fun especially if you have bought coins that have risen in value after a few years.
    I certainly don't want to live in a world where the price of Gold and Silver is at all time highs as it means that something is seriously wrong with the worlds financial system,but I would be glad that I have got some should this occur.
  24. Rich99 liked a post in a topic by FriedrichVonHayek in whats going to make silver move much higher   
    Precious metals are just insurance,who in their right mind gets excited at the prospect of their house burning down so they can claim on the insurance.
    Collecting coins can be great fun especially if you have bought coins that have risen in value after a few years.
    I certainly don't want to live in a world where the price of Gold and Silver is at all time highs as it means that something is seriously wrong with the worlds financial system,but I would be glad that I have got some should this occur.
  25. Rich99 liked a post in a topic by FriedrichVonHayek in whats going to make silver move much higher   
    Precious metals are just insurance,who in their right mind gets excited at the prospect of their house burning down so they can claim on the insurance.
    Collecting coins can be great fun especially if you have bought coins that have risen in value after a few years.
    I certainly don't want to live in a world where the price of Gold and Silver is at all time highs as it means that something is seriously wrong with the worlds financial system,but I would be glad that I have got some should this occur.