Petition to remove VAT on silver/platinum coins

[Finbinfin]

Hi all UK based silver forum members, 

I have created a parliamentary petition that calls for VAT on silver and platinum legal tender coinage to be scrapped. 

It needs 5 people to click the following link and provide email addresses for it to go live:

 

https://petition.parliament.uk/petitions/200271/sponsors/new?token=MIzDK6Z6iKxuo8hKPS82

 

Given that Brexit puts our ability to get VAT free silver from the continent at risk, this I feel is the time to challenge the status quo.

 

Many thanks! 

[reidpj]

Signed

[Finbinfin]

Thank you [emoji106]

[arcglide]

Signed

[MickB]

Signed

[Finbinfin]

Thank you all, it's now under review before being published.

[sixgun]

Signed. 

[augur]

Signed. 

[Bullionbilly]

Signed.

[oliversw5]

Personally I think you are wasting your time, I have signed anyway. 

[Finbinfin]

Well five minutes is worth it, thanks for signing

[oliversw5]

3 minutes ago, Finbinfin said:

Well five minutes is worth it, thanks for signing

Don't get me wrong I 100% agree with your petition. 

[Myblueheaven]

Done

[Argentknight]

Signed.

[onlyroadtoheaven]

Signed

[prophet800]

Done

 

[Kman]

8 hours ago, oliversw5 said:

Personally I think you are wasting your time, I have signed anyway. 

I signed it but I was certainly thinking this when I did it lol. 

[Markh]

I agree with @oliversw5 and  @Kman no way will this go through. Good luck trying.

[sixgun]

The petition needs 100 000 signatures if it is to stand a chance of being debated. i wonder if there are 100 000 people affected by this issue, i seriously doubt it. i wonder if there is even 10,000 serious silver coin collectors in the UK. 

i think liaising with European sellers so they mark up packages correctly as silver coins that are collectors' pieces of numismatic interest, so they only get the 5% VAT and we don't pay any EU VAT is the way forward. There will be some VAT, which is on dealer profits which could be knocked off when coins are exported to the UK. When this is knocked off we might end up paying 4% VAT.This is 4% too much in my mind. It is my view that virtually every silver coin mentioned here outside Phillies and Kangaroos are of numismatic interest. People should not confine their thinking to something especially rare. If a coin sells for more than the silver plus a quid to make the coin and say a quid for dealer profits the extra price is purely numismatic interest. If £0.01 of the coin is numismatic value, then the coin has numismatic interest. The legislation does not define how much numismatic interest it should have and such a term is entirely subjective in any case.

We need cooperation from dealers to make the process easy and people should be familiar with the process of reclaiming VAT. When the time comes there should probably be a specific section on the forum with necessary instructions and downloadable forms. 

[Trumar]

Signed

[Murph]

Draw their attention to this and they are more likely to increase taxes when we leave Europe than lower them!

[airmac]

Being an outsider of the UK I can't really say anything about it. But when has a government given up any money income?

[Rat]

Signed the petition. Only £99,979 more signatures to go 

[4Nines7Hills]

 has this been posted on other forums, facebook pages etc 

[Guest]

Sorry but this is a dead horse. A petition only asks the Parliament to express their opinion on a certain matter. What is needed instead is to educate the public that silver, just like gold, is sound money and should be penalised. Imagine if VAT was levied on cash! Actually we're probably going in that direction.