Shipping cost....

[Michael Growe]

I noticed that shipping cost kill your DCA. I should just stick to buying at my local store. If I go to my store I dint have to pay taxes either. I averaged everything I bought under $20 and with shipping added in it puts my DCA over $30 an oz. Terrible. [emoji24]

[craig12]

you should see what we have over here   20% extra shipped free to george osbornes door

[Shamatti]

I noticed that shipping cost kill your DCA. I should just stick to buying at my local store. If I go to my store I dint have to pay taxes either. I averaged everything I bought under $20 and with shipping added in it puts my DCA over $30 an oz. Terrible. [emoji24]

 

Most of us don't have local stores, and if we did they would add 20% vat to the cost of everything we purchased.

 

So getting it shipped in under various schemes is in fact the cheapest option for anyone in the UK.

[Michael Growe]

Most of us don't have local stores, and if we did they would add 20% vat to the cost of everything we purchased.

So getting it shipped in under various schemes is in fact the cheapest option for anyone in the UK.

Geeze. if I go to a local store I can get government coins i.e. eagles or 90% I pay no taxes. But I do pay taxes on bullion like apmex bars. May be I could ship some silver to you guys from here. You could make out in a currency swap.

[Cointreau]

Geeze. if I go to a local store I can get government coins i.e. eagles or 90% I pay no taxes. But I do pay taxes on bullion like apmex bars. May be I could ship some silver to you guys from here. You could make out in a currency swap.

Thanks for the offer Michael. However, we tend to source our silver from Germany and Australia now.

[Shamatti]

Geeze. if I go to a local store I can get government coins i.e. eagles or 90% I pay no taxes. But I do pay taxes on bullion like apmex bars. May be I could ship some silver to you guys from here. You could make out in a currency swap.

 

Again thank you for the idea. Problem is the tax man - he will intercept silver on the way in to the country and apply tax which has to be paid before you get your delivery. They have it well tied up the buggers!

 

The odd coin though, usually gets through. So anything interesting that we may not see a lot of here would be welcomed!

[Michael Growe]

What do they do, open your package? What if I said I was sending you some Florida beach sand

[Shamatti]

What do they do, open your package? What if I said I was sending you some Florida beach sand

 

Yes, they do open it if they are suspicious of it. I have had seeral deliveries from Australia (which is also tax free on silver) stopped and 'inspected'. I then had to go to the local post office to pay the tax, and an additional £8 inspection fee, before getting the coins. Very expensive option!

[Michael Growe]

BS I tell ya

[Shamatti]

BS I tell ya

 

You're not wrong, mate. It is criminal that the UK charges VAT on investment silver. I understand charging tax on industrial metals, but not investments. BS Indeed!

[Michael Growe]

And they will charge you taxes on it after you cash it in for a profit

[silversword]

You're not wrong, mate. It is criminal that the UK charges VAT on investment silver. I understand charging tax on industrial metals, but not investments. BS Indeed!

 

Yes, I would like to know exactly how a legal tender silver coin is "industrial" any more than a gold one is. It's not like we can legally melt them down is it? 

[Shamatti]

Yes, I would like to know exactly how a legal tender silver coin is "industrial" any more than a gold one is. It's not like we can legally melt them down is it? 

 

I hadn't thought of that! What a jolly good point. Actually, that just made me even more annoyed about it.

[Pete]

For our USA cousins - simplistic I know but the story unfolds -

If you work hard in the UK you pay 40% tax on your earnings.

You pay 20% tax on your silver and when you die you pay the state another 40% tax.

Not much left is there ?

[Dieselbhoy]

Again thank you for the idea. Problem is the tax man - he will intercept silver on the way in to the country and apply tax which has to be paid before you get your delivery. They have it well tied up the buggers!

 

The odd coin though, usually gets through. So anything interesting that we may not see a lot of here would be welcomed!

i was just looking for a thread along these lines before i put another up, sooooooo a quick question, i was on silver to go website and just mucking about with the various links at the bottom,went onto the Royal Canadian mint website and it states the following

"Also note, that it is the customer's responsibility to pay any duties or taxes for any goods shipped to an international address. Any shipping charges for packages returned to us as a result of a customer's failure to pay customs, duties and taxes will be billed to that customer.!

 

so how would that work,i dont think ill ever use it but just incase, so i get the bit where you need to pay for the goods, but the whole tax/vat thing how does that work m8, do you make a payment when the delivery guy comes to your door or do you need to contact some governmental department and fill in forms or do they simply just take the payment along with your original payment

[Dieselbhoy]

For our USA cousins - simplistic I know but the story unfolds -

If you work hard in the UK you pay 40% tax on your earnings.

You pay 20% tax on your silver and when you die you pay the state another 40% tax.

Not much left is there ?

eh? im puzzled Pete.

my whole idea of getting into PMs as i mentioned before is to just keep purchasing and putting by so my son will have a small nest egg when i die,so does that mean if he were to sell my booty on then he would need to pay 40% in tax

[Danny-boy]

eh? im puzzled Pete.

my whole idea of getting into PMs as i mentioned before is to just keep purchasing and putting by so my son will have a small nest egg when i die,so does that mean if he were to sell my booty on then he would need to pay 40% in tax

Have a read up on inheritance tax, it has limitations.

[Pete]

Have a read up on inheritance tax, it has limitations.

 

If you own a half decent family home in London or the SE of England then it will likely be valued at or over the inheritance tax threshold already.

That means everything else of value down to the kitchen sink is charged 40% tax on death.

Wicked I know so your kids will most likely have to sell 40% or your hard earned collectables to hand over to the government who I am sure will spend it in the manner it is accustomed to. If you have a partner it is a bit more complicated as you can transfer your personal allowance for IHT.

 

Of course if you are of the landed gentry, royalty or filthy rich class then you need not worry about IHT as you will have paid an accountant to ensure everything is written in cleverly worded trusts so avoiding paying a penny. Your gold and silver will pass onto your heirs tax free.