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Thread: Purchasing platinum and VAT.

  1. #1

    Default Purchasing platinum and VAT.

    I am looking to purchase platinum but it attracts 20% vat in the Uk, so my question is:

    If I buy it and pay the VAT when I come to sell it I will have effectively lost 20% straight away, right?

    If I buy it in a vat registered company I can claim back the vat but then I will have to charge the purchaser vat when I sell it,

    If I purchased it in the US I suppose I would have to pay vat when I import it to the uk?

    If anyone can help me on this I would greatly appreciate it.

  2. #2

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    Quote Originally Posted by Davidwd View Post
    I am looking to purchase platinum but it attracts 20% vat in the Uk, so my question is:

    If I buy it and pay the VAT when I come to sell it I will have effectively lost 20% straight away, right?

    If I buy it in a vat registered company I can claim back the vat but then I will have to charge the purchaser vat when I sell it,

    If I purchased it in the US I suppose I would have to pay vat when I import it to the uk?

    If anyone can help me on this I would greatly appreciate it.
    What they don't know about, they can't tax or grab. If I felt the need to report physical metal holdings -- I don't think I would have -- especially with a 20% VAT! In the UK -- I would stick to tax free gold (sovereigns?) -- which you are so lucky to have -- as here in the U.S., you pay a 28% "capital gains" punitive collectible tax on such.
    “Of all the contrivances for cheating the laboring class of mankind, none has been more effective than that which deludes them with paper money.”Daniel Webster (1782-1852)

  3. #3

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    don't forget the huge buy / sell spread

  4. #4

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    Quote Originally Posted by yellowsnow View Post
    don't forget the huge buy / sell spread
    Yes, plat not as liquid. But the buy-sell spread can be reduced greatly using e-bay. I see going into some plat as diversifying.
    “Of all the contrivances for cheating the laboring class of mankind, none has been more effective than that which deludes them with paper money.”Daniel Webster (1782-1852)

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