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silverback19

Are Goldsilver.be VAT free in 2019 for uk?

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Hi silver forum i am new to this forum and need some help with goldsiver.be. i am thinking of ordering from them but have only ever used europeanmint. Are they a legit dealer? as my computer says it is not safe when visiting their website? Plus does anyone know if you get charged VAT when getting items shipped to the uk?? Help would be appreciated

 

 

 

 

 

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Thanks, its not terrible shipping considering id usaully pay around £20 for european mint, i was just wondering if anything had changed with the vat situation because i can find a lot on here about them but nothing recent. thanks for your input

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The price you see on goldsilver is including any VAT, nothing more to pay. The delivery has gone up quite a bit, €29 now. 

Do use their € pricing and Transferwise/Revolut though as their £ exchange rate is poor.

 

Edited by Martlet

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Forum members have collectively ordered 100's thousands of EUR of silver from Goldsilver.be. i have bought a lot of silver from them - i have never had an issue - some have but as long as you pay for what you order you should not have any problems.

i would get a move on - although i suspect there will be a hitch and the UK will not leave the EU on 31st October 2019 - (or even ever leave the EU) you never know. When/If the UK leaves there will be full 20% on imported silver. There is some VAT in the Goldsilver.be price - it is not completely tax free as most say but they use a loop hole in the tax laws to keep tax low. As i understand the silver is technically sold 'second hand' and is sold as already tax paid. i have been in discussion with David from Goldsilver.be about this - he suggests they have a card up their sleeve so they can still get lower tax coins over to the UK - they may be exploiting the fact VAT on silver coins and medallions which are collectors' pieces of numismatic interest is 5%. Few know it is 5% and that includes the pirates at Customs.  

Edited by sixgun

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8 minutes ago, Miganto said:

Can you source this fact please?  Interesting, in a worrying way :)

"When/If the UK leaves there will be full 20% on imported silver "

Silver is taxed at 20% VAT in the UK - this is a fact. If you import silver from anywhere on the planet it will have VAT levied at 20%. At the moment being in the 'Free Trade' environment of the EU we are dodging this by importing it from the continent. As i say there is 5% VAT on collectors' pieces of numismatic interest - in my opinion any silver coins which are priced much above the cost of the silver is not plain bullion and you are collecting it b/c it has numismatic interest. Some on the forum has claimed the tax back - it hasn't been much of an issue b/c members have been getting cheaper silver from Germany, Estonia and Belgium. 

The pirates will steal your treasure - never think otherwise.

Edited by sixgun

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2 minutes ago, sixgun said:

Silver is taxed at 20% VAT in the UK - this is a fact. If you import silver from anywhere on the planet it will have VAT levied at 20%.

Is this not the case now, before the UK leaves the EU?

So i'm unsure where "When/If the UK leaves there will be full 20% on imported silver " comes from.

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33 minutes ago, Miganto said:

Is this not the case now, before the UK leaves the EU?

So i'm unsure where "When/If the UK leaves there will be full 20% on imported silver " comes from.

The silver from Germany, Goldsilver.be, Estonia doesn't get stopped at the border and 20% VAT slapped on. The VAT is deemed to be paid. Nothing extra to pay. The silver is sold 'second hand' except to Estonia which has no VAT on silver coins depending on how it gets shipped to you. None of these dodges will work when the UK escapes the EU's clutches.

When the UK comes out of the EU - packages from Germany and Goldsilver.be will likely be stopped and will get 20% VAT slapped on top. There has been endless talk about this on the forum. Backyard Bullion who organised group orders has stopped doing them now for this very reason - he does not wish to be importing £20k of silver and find he gets thumped with a VAT bill for £4k. @BackyardBullion

Edited by sixgun

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I thought the BYB importing would have been stopped due to being unaware of what would happen and so instead of risking everyone's money, wait until after Oct 31st to see the deal that is / is not in place and deal with it accordingly.  I thought what would happen after the end of Oct was still an unknown.  I wasn't aware a deal with important precious metals had been confirmed so far between the UK and Europe.  Now I am!

Seems I was wrong - Thanks for clarifying.

 

A source would still be great but i'll take your word on it due to the nature of the site and my relative naivety here.

Edited by Miganto

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9 minutes ago, Miganto said:

I thought the BYB importing would have been stopped due to being unaware of what would happen and so instead of risking everyone's money, wait until after Oct 31st to see the deal that is / is not in place and deal with it accordingly.  I thought what would happen after the end of Oct was still an unknown.  I wasn't aware a deal with important precious metals had been confirmed so far between the UK and Europe.  Now I am!

Seems I was wrong - Thanks for clarifying.

 

A source would still be great but i'll take your word on it due to the nature of the site and my relative naivety here.

GS.be are legit.

We used to use them a lot for group orders, probably placed over £50,000 with them over the course of about 18 months 

But.....I have found and continue to find EU mint to be the superior dealer.

As regards the current group orders - they are open until 22nd September and then we wait and see doing the brexit dance of "who the hell knows what's going to happen"

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It seems to me that nothing has been confirmed in regards what happens post Brexit, especially the Irish solution (whatever that entails) could be advantageous having a precious metals business there with easy access across an open porous border with vat free coins one side of the pond 🤔

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4 hours ago, Stu said:

Folks are saying the delivery cost has gone up markedly of late with GS.be. I hope they've changed courier, have listened to folk and have stopped using yodel in the UK?

I have stopped using them when the cost of shipping to Ireland jumped from 20€ in the past to 30€ last year and few months ago to 40€!

You need to order several hundreds of euros to offset their better prices. For my orders, usually between 200 and 400, I have found other sources more cost effective. 

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