We are sorry....Group Orders are no more blame VAT registration!!!

[Abyss]

17 minutes ago, bluemoon said:

What this does show is that the red tape has gotten people who are straight as a dot, wound up so tightly that they're worried about breathing the wrong way lest they get grief from Big Brother.

@bluemoon reminded me of scene from The Shawshank Redemption (https://www.imdb.com/title/tt0111161/?ref_=ttqt_qt_tt)

"The funny thing is, on the outside, I was an honest man, straight as an arrow. I had to come to prison to be a crook."

[AndrewSL76]

This is a real shame as I am still very new here and was not able to enjoy previous group orders. 

If @BackyardBullion is able to secure a voucher code, that is brilliant news and very much appreciated. Whether this will be available for us non signed up members, we will need to wait and see! I hear that there is a Silver-to-go voucher code for members and perhaps that is the incentive I need to start paying monthly subs..........................

Cheers once again.

[AppleZippoandMetronome]

32 minutes ago, AndrewSL76 said:

This is a real shame as I am still very new here and was not able to enjoy previous group orders. 

If @BackyardBullion is able to secure a voucher code, that is brilliant news and very much appreciated. Whether this will be available for us non signed up members, we will need to wait and see! I hear that there is a Silver-to-go voucher code for members and perhaps that is the incentive I need to start paying monthly subs..........................

Cheers once again.

Interesting. I've been contemplating a Silver-to-go order for a little while now. Would love to know if this is true about a voucher code. Could give me the final push I need to actually place an order.

[PansPurse]

Entirely understandable I wouldn't want to risk falling foul of HMRC, especially not with the thousands involved in each of these orders.

[Shaunbarry]

So is that it for the group orders then 

[BackyardBullion]

Just now, Shaunbarry said:

So is that it for the group orders then 

In their current form, yes. 

We are exploring the possibility of having people place orders and pay the EU mint directly, but then they send the goods to us to distribute out. This way you get the same heavy discount on shipping like normal.

The only issues would be you have to pay them yourself (for some people this is one of the reasons they used our group order service!) 

Also, I am unsure whether I would have to charge VAT on postage costs from me to you. We are awaiting clarification on this. 

[Shaunbarry]

Yea when I ordered from them before European mint yes they are cheaper and VAT free but I paid €29 to ship then for me to pay them from my bank extra  £9 then again £9 to pay bill to shipping company on top , ordered from goldsilverbe don't get extra cost of paying, yes again €22_€29 shipping but still VAT free  but slightly more on coins so people will have to shop around for best deals ,

[AndrewSL76]

5 minutes ago, Shaunbarry said:

Yea when I ordered from them before European mint yes they are cheaper and VAT free but I paid €29 to ship then for me to pay them from my bank extra  £9 then again £9 to pay bill to shipping company on top , ordered from goldsilverbe don't get extra cost of paying, yes again €22_€29 shipping but still VAT free  but slightly more on coins so people will have to shop around for best deals ,

If you order from the EU mint, use PayPal and pay in Euro. You then do not have the bank transfer rates - can transfer in Euro - and end up paying a wee bit less too. However, agree that Goldsilver.be are good value at the moment. I did a comparison basket filling session the other day and GB came in a fair bit cheaper. Also, do not forget that you can store to make the orders even better value over time.

[Shaunbarry]

Ok thanks

[bluemoon]

Couldn't you just show the taxman those massive group order threads? Wouldn't it then be blatantly obvious what it's really about?

[Shaunbarry]

Unless someone else takes over the group orders?

[jonrms]

@BackyardBullion 

If this helps, I am set up as you once were. 

Is there a way you can monitor the sales and I could ship them out? 

I don't know if other members would want this, or would like this, and I am not trying to start a debate. But as I am home 24/7 apart from hspt appointments, I know I can do this. I would probably need to buy a few varieties of boxes.  But I just wanted to throw it out there for our community.  

 

[universalcurrency]

8 hours ago, Mcgrimes said:

For anyone saying it’s easy, just look at all the bullion dealers that charge 20% vat on second hand silver, despite the VAT only being chargeable on the profit, I’m guessing it just isn’t worth the hassle. (Please correct me if I’m wrong)

Your right Mcgrimes, many dealers and some auction houses aren't signed up to the VAT margin scheme, (VAT on profit) which 2ndhand goods and in our case PM's.

Most likely they don't want the extra paperwork compared to just charging VAT on the whole sale price.

 

[BackyardBullion]

3 hours ago, universalcurrency said:

Your right Mcgrimes, many dealers and some auction houses aren't signed up to the VAT margin scheme, (VAT on profit) which 2ndhand goods and in our case PM's.

Most likely they don't want the extra paperwork compared to just charging VAT on the whole sale price.

 

There are quite a lot of conditions that need to be met for the 2nd hand margin scheme as well as quite stringent record keeping of the person and place you bought them from. 

I am hopefully going to be able to offer a buy and sell service specifically catering to second-hand coins. So at some point hopefully will be able to see that here on the forum a little bit more, but it's an awful lot of work. So you can understand why a lot of companies and businesses don't do it at all!

[BeeCee]

It's a shame we are saying goodbye to group orders as we know it. It was a fantastic service you provided Mr and Mrs BYB! 

I would be happy with paying directly to EM and still benefit from the postage savings 👌 will be interesting to see how this situation progresses.

[Seasider]

3 hours ago, BackyardBullion said:

Search some point hopefully will be able to see that here on the floor of a little bit more, 

Que?

[BackyardBullion]

13 minutes ago, Seasider said:

Que?

Dictating to my phone....should have read, So at some point hopefully will be able to see that here on the forum a little bit more

Edited the original post now. 

[Bullionaire]

21 hours ago, BackyardBullion said:

We are going to talk with the EU mint about how we can still support the silver forum buyers in perhaps the form of a shipping discount code.

I'm still using the old voucher code  working great. Saved me abut £30-40 on shipping overall and works out roughly the same as going via your group orders. 

They were fun the group orders though. Thanks for all your hard work on them.

 

 

[Seasider]

7 minutes ago, BackyardBullion said:

Dictating to my phone....should have read, So at some point hopefully will be able to see that here on the forum a little bit more

Edited the original post now. 

Ah.  

Your phone is obviously a bit of a poet.

[Mcgrimes]

3 hours ago, BackyardBullion said:

There are quite a lot of conditions that need to be met for the 2nd hand margin scheme as well as quite stringent record keeping of the person and place you bought them from. 

I am hopefully going to be able to offer a buy and sell service specifically catering to second-hand coins. So at some point hopefully will be able to see that here on the forum a little bit more, but it's an awful lot of work. So you can understand why a lot of companies and businesses don't do it at all!

Its clearly a pain, but, if you manage it, you may find yourself being to pick up, verify, and pass on second hand silver as a niche and beat the big guys.

As others have said, thanks for the group orders, and I hope they were mutually beneficial for your self (or at least worth the hard work!)

[jacobkenn]

15 minutes ago, Bullionaire said:

I'm still using the old voucher code  working great. Saved me abut £30-40 on shipping overall and works out roughly the same as going via your group orders. 

 

They were fun the group orders though. Thanks for all your hard work on them.

 

 

What is this code 

[Bullionaire]

10 minutes ago, jacobkenn said:

What is this code 

TSFBYB50

[jacobkenn]

11 minutes ago, Bullionaire said:

TSFBYB50

Thank you can confirm still working just placed my first order 

[Thelonerangershorse]

Apart from no more cheap silver, who's going to miss the unboxing videos?

[Shaunbarry]

This code gives us cheaper shipping does it ?

TSFBYB50