Mcm Gold

[Parcelsilver]

So here's a little rant. I used to buy silver but I only buy gold now (altough I love those perth mint poured bars). For my birthday I decided to get a 1/10oz eagle for myself I've no eagles never really a huge fan of them but would like a few in the stack all the same. I got he coin that comes in the US mint box and used the moderncoinmart ebay store and the coin arrived with Fedex in a few days. Next I get a letter from Fedex saying I owe 44Eur in Duty....I was raging at this stage after using MCM in the past to buy silver I got caught for VAT which I paid and said never buying silver from US again I emailed MCM straight away, a few weeks have gone by and they didn’t reply. I contacted Fedex who said ay us the money and claim back from revenue. I email revenue they said I didnt get charged VAT but Tax as its an investment coin. Anybody else come across this? I'll stick with coinivest/atkinsons/gold-dreams from now on    

[HawkHybrid]

why would anyone buy gold if not as an investment?

 

HH

[Dave]

Had same thing with mcm and fedex, and about the same amount, I wrote to them (email) and told them package was signed for by me on behalf of my son,( small white lie) who is now in aus , and that I have no contract with FedEx re monies owed, They passed me on to an English solicitors/ debt recovery firm , I sent them the same reply ,that I had no contract with them or fedex , and gave them the details of local small claims court. That was over 2 years ago, not heard anything since, and received several more packages from FedEx . I buy most of my bullion from USA , from trusted dealers sent under the radar. On a side note , Ireland still tries to impose duty on gold imports from outside Europe , using the over $75.00 inc postage import tax , Germany works out cheaper , when you include price of postage to overall cost of item

[Parcelsilver]

Hi Dave, from my understanding FedEx now have a new debt recovery firm and they're chasing old debt as I'm dealing with them at the moment which is a nightmare to say the least. Money sent to them for a shipment was never received, going over and back every so often just a heads up in case you get a letter about it. 

 

I'm tempted just to pay and get it over with but I'll never make that money back if I sold it in the future, I'll only deal with UK\German dealers from now on.

[mr-dead]

I believe tax on gold only kicks in if the value is something 88% over spot value

"What is the VAT (value added tax) on my purchase?
In general, within the EU, investing in physical gold is free of VAT. Under German law, for example, there is no VAT if the price of a gold coin is below 180% of the base metal value."

not sure if the above figure is correct for the UK?

Looks like you are getting ripped off to me

[Dave]

From Europe gold is tax free, but from outside Europe they can catch you on importing goods over the gift threshold , which is $75.00 inc postage charge, very long and hard job to claim back duty from this government ,