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Has anybody used Bitgild?


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I'm a bit confused by this and whether the UK would see it as the VAT was already paid (especially if paying in cryptocoins).  I'll contact them myself and maybe try a test order if nobody here has used them.

 

 

Some of our silver bullion coins are imported through the so-called margin scheme. This scheme dictates that regular VAT does not need to be levied on these products. Instead, VAT only needs to be paid on the margin on these products. These prices are automatically incorporated in the product prices of silver bullion coins on Bitgild. Products that are subject to this margin scheme are clearly marked on Bitgild with the ‘NO VAT’ sticker. On the invoice, these products will not have VAT and are labeled as "Margin Scheme".

 

 

This would be my main concern:

On the invoice, these products will not have VAT and are labeled as "Margin Scheme.

 

http://www.bitgild.com/

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I got a reply. 

 


 

thank you for your message and question. Actually, you do pay VAT, but not on the product. The margin scheme simply means VAT is levied on the margin that is on the product. This is already included in the price. As such, you do not need to pay the VAT that is levied on your own country (as VAT has already been paid). We have many customers in the UK, and on their invoice it simply states that you have paid with bitcoin or other cryptocurrency.
If you are not sure, do consult your own authorities for the exact local regulations.

 

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