Jump to content
  • The above Banner is a Sponsored Banner.

    Upgrade to Premium Membership to remove this Banner & All Google Ads. For full list of Premium Member benefits Click HERE.

  • Join The Silver Forum

    The Silver Forum is one of the largest and best loved silver and gold precious metals forums in the world, established since 2014. Join today for FREE! Browse the sponsor's topics (hidden to guests) for special deals and offers, check out the bargains in the members trade section and join in with our community reacting and commenting on topic posts. If you have any questions whatsoever about precious metals collecting and investing please join and start a topic and we will be here to help with our knowledge :) happy stacking/collecting. 21,000+ forum members and 1 million+ forum posts. For the latest up to date stats please see the stats in the right sidebar when browsing from desktop. Sign up for FREE to view the forum with reduced ads. 

VAT and Taxation Question


JinKesef

Recommended Posts

you can send a gift to a person in the uk and if the value is below £39, it is not liable for import vat. however, be wary, the rules do state that the shipping cost is included, but in my experience sometimes they include this but often don't.

Profile picture with thanks to Carl Vernon

Link to comment
Share on other sites

4 hours ago, JinKesef said:

Is it possible for me to avoid having to pay for VAT and/or import duty fees if I purchase a coin or silver etc here (US) then ship it to a friend in the UK?

On the customs form list it as a gift. Also use the term collectable as well. Research harmonized codes as well to alert customs what the item is.I  sent coins this way to Norway and had no problems. Value the coin at no more than $75.

Link to comment
Share on other sites

2 hours ago, sovereignsteve said:

you can send a gift to a person in the uk and if the value is below £39, it is not liable for import vat. however, be wary, the rules do state that the shipping cost is included, but in my experience sometimes they include this but often don't.

I thought they usually only included the postage for tax purposes once the value went over the limit?

 

I wouldn't value it at $75 as that is well over the limit.  I'd keep it a few dollars below 50 just in case the pound drops in value a bit meantime.

Link to comment
Share on other sites

2 hours ago, Murph said:

I wouldn't value it at $75 as that is well over the limit.  I'd keep it a few dollars below 50 just in case the pound drops in value a bit meantime.

yes $50 is pretty much £39 so good plan.

Not wise going near the limit as you can't rely on the Customs officers taking care in the fx conversion. Also if it's close they're more likely to look at the shipping costs too.

Profile picture with thanks to Carl Vernon

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

×
×
  • Create New...

Cookies & terms of service

We have placed cookies on your device to help make this website better. By continuing to use this site you consent to the use of cookies and to our Privacy Policy & Terms of Use