Precious Metals Taxes in United Kingdom

Since clients of GoldBroker are the direct owners of their precious metals without any intermediary, even as regards storage, they are responsible for reporting to their fiscal authorities.

GoldBroker makes no declaration to fiscal authorities (account reporting), since it does not store in the name of its clients. We actually facilitate investing in physical gold in your name; we do not manage accounts and we do not store on behalf of our clients.

You will find more information on the fiscal rules applied for your country of residence further down this page.

VAT on silver:

GoldBroker offers a storage service in a duty-free zone, which allows exoneration from the value-added tax (VAT) on your silver bar purchases.

However, withdrawals and deliveries of silver bars outside the duty-free zone are subjected to the VAT.

Taxes levied by different fiscal authorities:

Below you will find the different taxation systems of countries.*

 

COUNTRY OF RESIDENCE                        GOLD                               SILVER NOTES
      BUY                                           SALE

     BUY

* Goldbroker store silver in Tax-Free Zone > VAT exemption

SALE
FRANCE 0

10,5% tax on precious metals

VAT 20%

10,5% tax on precious metals

Precious metals are considered in the ISF declaration.
The gains tax is deducted of 5% per year from the third year of ownership. But, in order to be eligible, one will have to produce a certificate/receipt showing the price and date of acquisition. After 22 years of holding, there will be a total exoneration from the tax.
34.5% Capital GainsTax 34.5% Capital GainsTax
BELGIUM 0 0 0 VAT 21%  
SWITZERLAND 0 0 VAT 8% 0 Precious metals are considered in the ISF declaration.
ITALY 0

Company > 6% Capital GainsTax 

Private investors > 12,5% Capital Gains Tax

VAT 21% Company > 6% Capital GainsTax

Private investors > 12,5% Capital Gains Tax

 
UK 0 18% Capital GainsTax
 
VAT 17,50% 18% Capital Gains Tax

 
The CGT applies only
for bullions and coins wich are not 
legal tender. 
IRELAND 0 25% Capital Gains Tax VAT 21% 25% Capital Gains Tax  
SPAIN 0 20% Capital GainsTax VAT 16%   The rates may vary slightly from one region to another.
GERMANY 0 0

VAT 19% for bars

VAT 7% for bullion products with face value

0  
CANADA 0 Capital Gains Tax:
50% reduction the first year of ownership. The remaining 50% should be included in your income tax declaration.
0 Capital Gains Tax:
50% reduction the first year of ownership. The remaining 50% should be included in your income tax declaration.
More details on Canada Revenue Agency 
USA 0 28% Capital Gains Tax  0 28% Capital Gains Tax 

Gold and silver are considered "collectibles" > More info there

 

 

* GoldBroker cannot provide tax, legal, or other advice, so if you are not sure about the taxation to your personal circumstances, we recommend that you seek independent advice from a qualified professional.

 

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