Did you pay VAT on your purchases?
Anyone concerned by interest rates rising re mortgage?
- Thread starter SirGalahad
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Did you pay VAT on your purchases?
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Some I did . Some i didn't.
That’s the sellers responsibility.
Why do you ask ?
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If Silver price is £100
And you pay 20% VAT on it
And you are not a VAT registered Silver Trader
It costs you £120
But you sell it for £100
(Less dealing costs)
So you have an immediate £20 loss
(Plus dealing costs)
And you pay 20% VAT on it
And you are not a VAT registered Silver Trader
It costs you £120
But you sell it for £100
(Less dealing costs)
So you have an immediate £20 loss
(Plus dealing costs)
And if you pay cash or trade private then you don't pay vat
You mean, if you buy it from someone who is not a VAT registered silver trader.
Who cares......
Anybody who wants to avoid an immediate 20% loss. The same applies to Platinum.
Gold bullion does not have this problem, which was fixed to 2000 to align to EU.
Brextremists like Rees-Mogg presumably want to reimpose it.
British coins are mostly exempt from CGT, which might be useful if you make a significant profit.
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I will keep on storing as much vat free silver I can get my hands on thanks . And even the stuff I pay the vat on ... silver along with other precious metals is likely to rise with time
You've not seen the Platinum chart, then?
It's alot more than just looking at charts lol . Watch this space
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A guy I used to fly with took people on "jollies" to the Channel Islands, in a light twin 7-seater. Usually only six-up though...
Long story short, he was buying silver ingots and secreting them in the passengers' space, importing them without paying the vat. The cavity was discovered eventually by one of us other "timesharers". He'd let a few things slip so we put 2 & 2 together, and he had to (...wife...) admit it, though there was no proof that I knew of. Later we found out he was making around 5k on every day-trip, which was how he got people to go with him "just for the cost of the petrol".
Several trips a year - it adds up.
His wife had got him started, she'd wanted a vat-free diamond ring, but we reckon she didn't know about the cash or what he was doing with it.
Long story short, he was buying silver ingots and secreting them in the passengers' space, importing them without paying the vat. The cavity was discovered eventually by one of us other "timesharers". He'd let a few things slip so we put 2 & 2 together, and he had to (...wife...) admit it, though there was no proof that I knew of. Later we found out he was making around 5k on every day-trip, which was how he got people to go with him "just for the cost of the petrol".
Several trips a year - it adds up.
His wife had got him started, she'd wanted a vat-free diamond ring, but we reckon she didn't know about the cash or what he was doing with it.
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