Labour government - Potential rise in VAT

[MonkeysUncle]

Nah, can't get me with CGT, way ahead of the thieving b******s on that one. For once. 

[Bratnia]

On 30/05/2024 at 06:02, dicker said:

@Roy I would think so.  Peer to peer may become significantly more popular if people were willing to say sell at 10 or 15 pct over spot.

I suspect smuggling might become a problem for the government but I am not sure that this will be thought about in any detail.

Southern Ireland (EU) and Northern Ireland land border is easily crossed. With a speed drone you can carry several pounds weight and buzz across the 10 to 12 miles distance between NI and Scotland in a little over 5 minutes.

The smuggling and reclaims of VAT made to HMRC would cost more than it brought in, as would the declines in the London Metals market trade (that compare in value to the amount of stocks traded in the UK each day).

IIRC decades ago farmers with farmland that spanned both NI/Eire made a fortune by driving the same cows via road and across the border to collect the export certificate, to release them back into their farmland before rising/repeating (or suchlike). The EU opted to remove VAT on gold for alignment purposes as otherwise misalignment opens up exploits/fraud that costs more than it brings in.

[notwell]

On 30/05/2024 at 07:16, Bratnia said:

And the global metal exchange hub of London, would move into Europe, and pretty much !*@k up the UK, and potentially even cause a global financial crisis as 5000 tonnes of gold was demanded to be moved out of the UK into Europe at a time when there is 124 times more paper gold than physical gold.

Bratnia I absolutely love your posts, your posts alone spurred me to register here, and I already regard you are a virtual brother from another mother.  I have a good instinct and you are solid gold mate!!