UK STACKERS - And paying 20% VAT on silver - How to get around it #61
Heres how you can get round it as a UK stacker to get VAT FREE silver bullion. This only works on government issued bullion, eagles, maples, brits, kook, ect, ect. All you have to do is find counties within the EU that you can silver Vat free Germany, Belgium, Estonia are few that come the mind. The way its works is, you place your order with the bullion dealer and they use a private carrier to deliver the package. Now you do not pay vat because the EU is a free trade zone meaning their are no custom charges. This does not work on bars, rounds are hand poured silver. So for me its cheaper to buy a kook over a sunshine round.
I do all my ordering from https://goldsilver.be/en/ I have used other but few the last few years, these guys have had the best selection and the best prices also. I have done 10 orders easy with them for around £600 each time and never had any problems with them. The only bad thing about having to buy your silver this way is the postage cost which is 18 euro, I justify paying this much which is the same cost of an oz of silver by placing bigger order of 25+ coins, the more the better. I pay bank transfer pay i dont pay a card surcharge. For this i use transferwize and its allows me to pay with my bank card and offers the best exchange rates i can find to boot. When i think 4-5% of my stack cost has gone to postage, it makes me sick but its way, way better than 20% vat. Apart from that, there are no other bad things. I always receive my order within 1 week of everything is stock so shipping times are not an issue.
I really feel jealous of stackers outside of the EU hat dont have to pay vat for their silver. I see offers on US bullion dealers for stuff at like 19cent over spot per oz and im wetting my pants. If i order from outside the EU trade zone, i will need to pay vat and a customs charge. When you add this to the normally $50 plus 50cent per oz international shipping cost, its not worth it unless your after something special that you can not get in Europe. You guys outside the EU really have it much more easy than us brit's. This is a rule i do not think will change anytime soon as silver becomes more popular as in industry metal.
Are you are UK stacker? What do you think about having to pay vat and how does it effect what you stack. I know i would have more rounds if i did not have to pay this extra rip off charge.
Check out some of my other posts if you liked this one
The HUNT brothers and SILVER ** *****http://steemurl.com/_5kTm2Ly
1st GOLD purchase for 350 steem******http://steemurl.com/8GqybXjo
Growing the #STEEMSILVERGOLD group**http://steemurl.com/d9qNlTr4
Counterfeits, Check Your Stack Part 1 **http://steemurl.com/2XXx4rnP
So we just need a German middleman to get you some good deals out of the states 😉👍
silver-to-go.com is German based. I use goldsilver.be which is based in Belgium. Place bigger orders to justify the postage costs and your home in a boat :D Thanks for commenting
I made a mistake that has worked greatly in your favour. I still cant figure how i boosted your comment instead of my post. Enjoy :D
I don't understand how it works but I'll do my best to pay it forward 👍
Swings and arounds buddy,
Thanks for sharing, I'm learning about all the VAT stuff lately and I feel for you all! I'm going to make sure I spread the word in case other Europeans don't know!
You do see your 1st comment got upvoted like $1.90?
Holy wow! I'm speechless, thanks! Man Steemit is awesome! Go #steemsilvergold!
Lets hope more people upvote it :D
Excuse the language but it's a bloody scam there is this excessive vat on silver in the U.K. Especially when gold does not incur vat. Great advice!!
It eally makes no sense at all. If you are buying wire roll for wiring are something, fair enough but collectable bullion?
great vid its such a con when they dont do it for gold, gold is an industrial metal the same as silver
What vid? Its a written post. And yes, it is a con but there is always a loophole. Lets wait and see what happens after brrexit.
i dont know why i said vid? i meant post, too used to youtube, if i could afford big order i would definately try buying from europe, thanks bud
Fuck VAT it's no đifferent than the 1696 window tax and just as ridiculous. Paying tax to buy goods using money you've already paid income tax on.
Governments are the Mob. They seriously need to 'do one'.
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STOPIs What i also do and i buy mainly from goldsilver.be as well as they cheaper than silver to go. although STG do have a uk bank acc so you can pay in pounds rather than euro's. when i first started stacking this is where i bought from but they don't have a big as selection as GS.be. There are alot of other dealers most mainly german. As there a huge collector market in germany.
There is vat but it is only 7% under what they call the margin scheme and only applies to germany. sure there is a goldsilver.de or used to be
Funny how they have an edge the germans.
I do wonder if and when we leave europe what will we all do or if vat will be lifted on silver or vat put on gold as there no vat on gold and is the eu that sets the staus. you can buy Gold from outside eu. no problem.
I have bought gold direct from perth mint but i dare not buy silver.
I wait till german dealers get the proofs etc in and buy from them. like the dragon and phoenix 1oz high relief got that from EMK and a graded stock horse to soften the postage.
I do know that you can hold orders till you ready to ship as well. which i not personally used but can help reduce costs and i may consider it soon. Could help smaller stackers or those that just cannot trust themselves to put money aside to buy silver or missout on some great deals as often they have slightly older coins at current prices or less.
So yeah it can be done and saves 13% which when you think about it over time is a huge saving and if you can save on postage by say holding order for say 3 months rather than ordering every month. theres 2 ozs more silver added to the stack.
There is estonia but I not used them forget what they called basically you have to get it shipped to a local courier. who they have nothing to do with for it to be vat free or under the margin scheme. but to me no need to take those risks.
I also know as well some states in america have state taxs on silver. so really depends where you live but if bought online is ok. just applies to lcs i think. A fellow youtuber was doing a road trip and didn't buy much due to taxes. But is real funny that our american friends can buy from Royal mint cheaper than we can even with international postage... crazyness
Great comment, reply :) Yes, doing smaller orders and having having the dealer keep and ship all bullion in 1 go to save on postage is something i forget about. Thank you so muich for your comment.
Your welcome one of those things we just have to get around anyway we can. Bars and rounds just don't have value here in eu. fact is we being ripped and if i want generics i'd just buy gold. otherwise really it's kooks and koalas for me more likely to buy those over brits anyday. As really not much more and better when you come to sell
resteemed this very important info
thanks buddy. I was i know this when i started plus we dont whats gonna happen with Brexit yet. S**t could hit the fan for us UK silver stackers.