Could exiting the EU result in VAT on gold?

[Carpe Diem]

Since 2000 no VAT is chargeable on investment gold, and was a result of trying to get a better balance in the EU for such investments.  

 

So if that's the case what do you think is the likelihood of the UK reintroducing this should we exit the EU in future?

[HighlandTiger]

do you think the UK would introduce something that will result in less business for the country?. I dont.

[Carpe Diem]

we had it for 26 years before it was introduced though, so why would this time be any different?

[HelpingHands]

Maybe you should be more concerned about still being able to get silver from Europe.

[HighlandTiger]

we had it for 26 years before it was introduced though, so why would this time be any different?

most of the world markets don't tax the sale of gold.The last thing the UK would want to do now is lose any of that business, especially in todays world where thanks to the internet you can buy from anywhere in the world at the click of a button. Things are different from 26 years ago.

[HighlandTiger]

Maybe you should be more concerned about still being able to get silver from Europe.

I'll be getting it delivered to my family in Scotland, (no doubt they will want to be in the EU if they choose independance) and then driving it back through the border control checkpoints at Gretna on the M6. Bribe the guards with a couple of bottles of buckfast to look the other way, and I'll be travelling south with a boot full of bullion

[Pipers]

If we left the EU where would we get our Silver from? I reckon within 5 years there would be VAT on Gold.  

[HighlandTiger]

If we left the EU where would we get our Silver from? I reckon within 5 years there would be VAT on Gold.  

From the same places as now but sent to us via the Republic of Ireland (or Scotland). There is a very good reason why Ireland is the European hub of smuggling when it comes to the two most lucrative smuggled items. Drugs and exotic animals. Getting silver into your "vault" won't be an issue if we left the EU. 

[Pete]

If Scotland goes independent there is absolutely no chance that it can be part of the EU as long as Spain remains in the EU.

I also doubt Alex Salmond will be interested in reducing VAT on anything, least of all silver.

 

If the UK leaves the EU then we will be free to set our own rates of VAT rather than be controlled by Brussels.

I would like to see 20% VAT added to gold as it would immediately push up the price and that's what I need to return to near break-even; as an older stacker from the "peak days".

[silversword]

I would like to see 20% VAT added to gold as it would immediately push up the price and that's what I need to return to near break-even; as an older stacker from the "peak days".

 

Er, what? Will you be charging VAT on your gold when you sell it?

[Danny-boy]

Er, what? Will you be charging VAT on your gold when you sell it?

He wouldn't need to, it would set a higher aftermarket price for gold as gold+VAT would generally be the base price.

Used silver without the vat is possible, but it's the with vat price that gets paid on eBay and many other places.

I'm assuming that's what he's getting at.

[silversword]

If England, or the UK were to apply tax to gold, it would be a short-term, short-sighted decision, which would come back to bite us. Probably just like leaving the EU.

 

Besides, nobody should want to pay more tax, or have more things subjected to tax.