Taking Personal Gold Bars to UK - Page 2

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Taking Personal Gold Bars to UK - Page 2


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  #11 (permalink)  
Old 10th December 2013, 06:31 PM
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Originally Posted by Stevesolar View Post
Right - think i have correct answers now!
VAT in UK is definitely 20% - for normal goods.

Gold jewellery imported to UK has import duty of 2.5% and VAT of 20 %

Investment gold bars and investment gold coins are duty and VAT exempt - hurray!!

You can check the above on a really good website called dutycalculator.com and enter appropriate countries, products and values.

Hope the above helps!
Cheers
Steve
Thanks for the reply SteveSolar.

I also came to same conclusion but I wasnt sure if investment gold bars are treated same as investment gold coins and cash money...

I just wanted to make sure by answers from experienced people here....

Now can any one tell me how I declare this to Heathrow Airport customs officials....what forms do I have to fill?????
Is it the same form for declaring cash money????

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Old 13th December 2013, 04:55 AM
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I took a 500g gold bar to the UK.. No problems in the UK at all.. (No VAT payable).. Just make sure you take proof of purchase with you through the Airport in Dubai... I was stopped twice and had to provide the purchase invoice from the trader.

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Old 13th December 2013, 11:42 AM
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I took a 500g gold bar to the UK.. No problems in the UK at all.. (No VAT payable).. Just make sure you take proof of purchase with you through the Airport in Dubai... I was stopped twice and had to provide the purchase invoice from the trader.
Hi Monkiman,
Thanks for the info and reply.

Can you tell me what form did you fill in at the airport to declare your Gold???
Did you walk out through the customs green or red channel in UK?

I am also thinking taking a similar amount of gold....I have all the purchase receipts from the shop.

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Old 14th December 2013, 03:04 PM
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Originally Posted by aloo_bazi_du ai View Post
Hi Monkiman,
Thanks for the info and reply.

Can you tell me what form did you fill in at the airport to declare your Gold???
Did you walk out through the customs green or red channel in UK?

I am also thinking taking a similar amount of gold....I have all the purchase receipts from the shop.
I did not fill in any forms in UK / Dubai . I only had to show the receipt from the gold agent with my name on it in Dubai (Having the name as per my passport on the receipt was critical). In the UK I walked through the green channel.

I ended up selling my gold in the UK and depositing the cash in HSBC ... no questions asked

The Monkiman

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Old 14th December 2013, 11:15 PM
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Originally Posted by monkiman View Post
I did not fill in any forms in UK / Dubai . I only had to show the receipt from the gold agent with my name on it in Dubai (Having the name as per my passport on the receipt was critical). In the UK I walked through the green channel.

I ended up selling my gold in the UK and depositing the cash in HSBC ... no questions asked

The Monkiman
Thanks for the reply Monkiman.
Its good reassuring advice. Im feeling more confident to invest my life savings in Gold and take them
to the UK

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Old 15th December 2013, 05:36 AM
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I have been looking at buying gold bars for some time now but really don't know where to start, how much to pay and what the process is. Can someone give me advice and perhaps the name of their trusted gold vendor please. I gather gold prices are fairly low at the moment and this may well be a good investment for me. Thanks CF

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Old 15th December 2013, 05:46 AM
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there was a report on the radio last week suggesting that many large funds internationally are 'falling out of love' with gold...
this is not going to do the gold price any favours if it's true

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Old 15th December 2013, 05:56 AM
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Go to the gold Souq and shop around. Take your passport with you.

Look for 995 or 999 purity.

When you buy they'll give you a price over the current spot (kitco) . It's usually fixed as a %... so asking around you can find a good deal. (I think I paid .2% or .25% over).

You can buy 100g, 500g or 1kg bars. I prefer bars.

Remember, for example, If you're buying a 1kg bar at 995 purity - you're only buy 995 grams of gold.

Good luck... Having a 1kg gold bar in your hand feels kinda awesome.

The Monkiman
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Old 15th December 2013, 06:07 AM
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Quote:
Originally Posted by vantage View Post
there was a report on the radio last week suggesting that many large funds internationally are 'falling out of love' with gold...
this is not going to do the gold price any favours if it's true
The gold markets will always be manipulated with ETFs and big buyers and sellers doing crazy things.. I gave up trying to make sense of it all ages ago.

I only invest in gold and silver as a hedge against banks printing bucket loads of currency and causing deflation in purchasing power of that currency.

At somepoint all that printing of currency is going to cause inflation in the USA. And here we're pegged to the dollar... that'll be interesting.

Printing money has never failed to cause inflation... too much printing will cause hyper inflation... Think it'll never happen to the US? Well.. I hope not but I'm prepared just in case.

4000 years ago an ounce of silver could buy you a shirt. Today... We'll it's about the same.

Price your lifestyle in gold and silver... work out how much you'd need to survive for 3-5 years ... Have that amount stashed at home (not in a bank vault).

The Monkiman

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Old 15th December 2013, 12:17 PM
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Originally Posted by clownfish View Post
I have been looking at buying gold bars for some time now but really don't know where to start, how much to pay and what the process is. Can someone give me advice and perhaps the name of their trusted gold vendor please. I gather gold prices are fairly low at the moment and this may well be a good investment for me. Thanks CF
You can go to any of the many gold jewelers in Dubai.....your safe bet is either DAMAS or Malabar gold shop jewelers.
All the shops will charge you exactly same price according to gold rate on the day....you may try to haggle on the certification and documentation fees...they will vary shop to shop.

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