This is general information and not tax advice. Rules change, so check HMRC’s current guidance.
Gold
Investment gold, such as bars and many bullion coins, is normally exempt from VAT in the UK. A gold price should not have VAT added, so the calculator sets VAT to No for gold.
Silver, platinum and palladium
These metals normally carry 20% VAT when you buy from a UK dealer. That means a silver price can look cheap on a “ex VAT” basis and much higher once VAT is added. Always check which one you are looking at.
Comparing quotes properly
- Check whether each price includes VAT.
- Compare the premium before VAT, so the comparison is fair.
- Compare the all-in cost with delivery added.
The calculator does all three and lets you switch the VAT setting.
Capital Gains Tax
UK sterling coins such as the Britannia and Sovereign are usually treated differently from foreign coins and bars. This depends on your circumstances, so check HMRC or take advice.
Not financial advice. See the terms.