Taxes on Bullion Coins

In terms of tax administrations, gold, silver, and other precious metals can hold better market positions. However, taxation on Bullion is a complicated matter. It gets complicated by the fact that different precious metal products are taxed differently.

Bullion and Capital Gains Tax (CGT)

Due to their legal tender status, the Sovereign, Gold & Silver Britannia, The Royal Mint Lunar, and The Queen’s Beasts Bullion coin varieties are exempt from UK capital gains tax for UK citizens alone. In our Gold and Capital Gains Tax article, you can learn more about how Bullion can help you avoid CGT.

VAT stands for Value Added Tax (VAT)

For non-VAT registered private people, all gold bullion coins sold by Royal Mint Bullion, including The Sovereign, gold Britannia, gold Lunar, and gold Queen’s Beasts Bullion coins, are VAT free. The Royal Mint’s international gold bullion coin collections, such as the Krugerrand and Maple, are also VAT-free. Silver coins are liable to VAT at the current rate of 20%, regardless of the nation of issue.

VAT will not be levied on orders shipped outside of the European Union. Depending on the rules of the respective nations, these packages may be assessed for import or customs duties. All bills for Bullion Store Ltd. products, services, storage, or delivery (where applicable) will be subject to VAT. Where relevant, VAT charges will be explicitly displayed.

Bullion Tax – Customs and Import Duties

Depending on the rules of the respective countries, the customs department may evaluate any order. Customers must follow all of the destination country’s laws and regulations.

Once the package reaches the target country, customs or import duties are applicable as per the law of the land. The recipient is solely responsible for any additional charges imposed by the customs department; we have no control over these fees and cannot forecast what they will be. Customs policies differ significantly from nation to country, so you should check with your local customs office for additional details.