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Bringing silver to the UK


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3 hours ago, GeorgeOwen said:

I will be flying to Estonia and will be buying silver roughly around 7kgs of it and then flying back to England. Do I need to declare this and will I have to pay tax and if so how much.

Are you buying from a dealer? - European Mint - Celtic Gold etc?

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I know from experience that they classify silver bullion brought in from outside the EU as "goods" and that the value of them (not face value - actual value) counts towards your goods allowance. Using that same logic there is no limit on "goods" you bring into the UK from the EU unless they believe you are going to resell those goods. Thats a pretty big caveat and it means your question can't really be answered. If you get stopped, they think you plan to sell on the silver and you can't provide sufficient proof to show you aren't going to sell on the silver then you might get taxed. If you aren't stopped or you are stopped but they don't question the silver you won't.

https://www.gov.uk/duty-free-goods/arrivals-from-eu-countries

Edited by AppleZippoandMetronome
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5 minutes ago, AppleZippoandMetronome said:

I know from experience that they classify silver bullion brought in from outside the EU as "goods" and that the value of them (not face value - actual value) counts towards your goods allowance. Using that same logic there is no limit on "goods" you bring into the UK from the EU unless they believe you are going to resell those goods. Thats a pretty big caveat and it means your question can't really be answered. If you get stopped, they think you plan to sell on the silver and you can't provide sufficient proof to show you aren't going to sell on the silver then you might get taxed. If you aren't stopped or you are stopped but they don't question the silver you won't.

https://www.gov.uk/duty-free-goods/arrivals-from-eu-countries

Ok thanks for the that, I know tax for the UK is roughly around 20-21% for silver and Estonia has non and flights there are cheap but if I do get taxed on the way back will that be the same as the 20-21% or will it be a lower import tax.

 

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2 minutes ago, GeorgeOwen said:

Ok thanks for the that, I know tax for the UK is roughly around 20-21% for silver and Estonia has non and flights there are cheap but if I do get taxed on the way back will that be the same as the 20-21% or will it be a lower import tax.

 

If you wanted pure speculation and opinion from me - I don't think you'll have any troubles. There have been some absolutely massive group orders (well in excess of 7kg) placed from the European Mint that have been delivered to the UK without issue. I would think they are far more interested in people bringing back "excessive" amounts of tobacco than silver and I can't even begin to think how they would justify claiming an amount of silver is excessive for personal use. That being said unless you are hoping to make a holiday out of it as well I would look in to whether flying out there is really worth the cost/your time versus just ordering it online and having it delivered like many do.

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I've carried up to 100oz of silver coins in my hand luggage between Poland and the UK and get questioned every time.

"Moneta?' (coins)

Yes, I smile.

'Dobry, dziekuje!'  (ok, thank you)

Now, I'm particularly polite and devilishly handsome so this may work in my favour, but in my experience they are not interested.

Note: Coins not bullion bars.

Technically, alcohol is a solution..

'It [socialism] poses a growing threat, however unintentional, to the freedom of this country, for there is no freedom where the State totally controls the economy. Personal freedom and economic freedom are indivisible. You can’t have one without the other. You can’t lose one without losing the other.'

"There is no such thing as public money, there is only taxpayers' money"

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If it is just for your own personal investment I don't think you have much to worry about. 

Also, no need to declare cash or cash equivalents unless it is over ‚ā¨10,000 I believe (worth researching that and checking though)

Remember, it is value of the metal, not the face value of the coins. 

I have flown from Estonia to the UK with 20kg of silver and it was all good so should be OK with you too. 

From a UK customs perspective nothing was even visible or noticeable when we arrived in the UK. The interesting part is going through airport security with this stuff. It shows up as a giant black blob on the X-rays so they will want to have a look most likely. 

Or so you would think, the chaps in Estonia must be used to it because they saw the x-ray, looked at me and asked, "is it silver?", I said "yes" and they waved me through without by or leave!!!

Here is a video of the trip we took to Estonia. 

 

Visit my website for all my Hand Poured Silver: http://backyardbullion.com

And check out my YouTube channel 

https://www.youtube.com/backyardbullion

 

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There is your definitive answer George!

@AppleZippoandMetronome makes a good point here:

15 minutes ago, AppleZippoandMetronome said:

¬†That being said unless you are hoping to make a holiday out of it as well I would look in to whether flying out there is really worth the cost/your time versus just ordering it online and having it delivered like many do.ÔĽŅ

Tallinn is both beautiful and fascinating. Don't just pick up and leave!¬†ūüėä

Technically, alcohol is a solution..

'It [socialism] poses a growing threat, however unintentional, to the freedom of this country, for there is no freedom where the State totally controls the economy. Personal freedom and economic freedom are indivisible. You can’t have one without the other. You can’t lose one without losing the other.'

"There is no such thing as public money, there is only taxpayers' money"

Let not England forget her precedence of teaching nations how to live.

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1 hour ago, AppleZippoandMetronome said:

If you wanted pure speculation and opinion from me - I don't think you'll have any troubles. There have been some absolutely massive group orders (well in excess of 7kg) placed from the European Mint that have been delivered to the UK without issue. I would think they are far more interested in people bringing back "excessive" amounts of tobacco than silver and I can't even begin to think how they would justify claiming an amount of silver is excessive for personal use. That being said unless you are hoping to make a holiday out of it as well I would look in to whether flying out there is really worth the cost/your time versus just ordering it online and having it delivered like many do.

1 hour ago, AppleZippoandMetronome said:

 

For me to buy 6kgs of silver the vat is £550 in the UK but Estonia doesn't have any tax on precious metals so I was thinking that flying out which cost £150 would be cheaper to buy the same amount of silver or I could buy more silver than 6kgs and that would be cheaper than me buying 6kgs in England however if I get taxed on the way back it wont be worth it. Is that right

 

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1 hour ago, BackyardBullion said:

If it is just for your own personal investment I don't think you have much to worry about. 

Also, no need to declare cash or cash equivalents unless it is over ‚ā¨10,000 I believe (worth researching that and checking though)

Remember, it is value of the metal, not the face value of the coins. 

I have flown from Estonia to the UK with 20kg of silver and it was all good so should be OK with you too. 

From a UK customs perspective nothing was even visible or noticeable when we arrived in the UK. The interesting part is going through airport security with this stuff. It shows up as a giant black blob on the X-rays so they will want to have a look most likely. 

Or so you would think, the chaps in Estonia must be used to it because they saw the x-ray, looked at me and asked, "is it silver?", I said "yes" and they waved me through without by or leave!!!

Here is a video of the trip we took to Estonia. 

 

Ok so you didn't have to pay any tax once arriving in the UK, but we're your 20kgs in bars or coins.

Edited by GeorgeOwen
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7 minutes ago, GeorgeOwen said:

Ok so you didn't have to pay any tax once arriving in the UK, but we're your 20kgs in bars or coins.

Silver shot, not coins.

Visit my website for all my Hand Poured Silver: http://backyardbullion.com

And check out my YouTube channel 

https://www.youtube.com/backyardbullion

 

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5 minutes ago, GeorgeOwen said:

What are silver shots are they just small circle shaped silver.

Basically pure silver blobs, thousands of them....in a bucket!

 

IMG_20190326_203238_600.jpg

Screenshot_20190721-115144.png

Visit my website for all my Hand Poured Silver: http://backyardbullion.com

And check out my YouTube channel 

https://www.youtube.com/backyardbullion

 

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2 hours ago, GeorgeOwen said:

For me to buy 6kgs of silver the vat is £550 in the UK but Estonia doesn't have any tax on precious metals so I was thinking that flying out which cost £150 would be cheaper to buy the same amount of silver or I could buy more silver than 6kgs and that would be cheaper than me buying 6kgs in England however if I get taxed on the way back it wont be worth it. Is that right

 

Estonia is in the EU. So bringing it back to the UK is not importing it from outside the EU.

There is tax on silver in certain forms of silver but coins are zero rated. There is a technicality regarding the shipping of the silver to remain tax free but if you are bring it back under your own steam you comply with this.

Silver is taxed, just the rate for coins is 0%.

If you buy coins and bring it back yourself there is no VAT to pay. You have already paid the EU VAT - which happens to be 0% on silver coins in Estonia.

Buy coins or coin bars and you will be alright. Have all your paperwork with you to show what you have and where you got it, but you have paid the taxes (nothing) so nothing to declare.

Edited by sixgun

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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6 minutes ago, sixgun said:

Estonia is in the EU. So bringing it back to the UK is not importing it from outside the EU.

There is tax on silver in certain forms of silver but coins are zero rated. There is a technicality regarding the shipping of the silver to remain tax free but if you are bring it back under your own steam you comply with this.

Silver is taxed, just the rate for coins is 0%.

If you buy coins and bring it back yourself there is no VAT to pay. You have already paid the EU VAT - which happens to be 0% on silver coins in Estonia.

Buy coins or coin bars and you will be alright. Have all your paperwork with you to show what you have and where you got it, but you have paid the taxes (nothing) so nothing to declare.

Ok thanks so much for that.

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5 minutes ago, GeorgeOwen said:

Ok thanks, is that the best value of buying them or is it worth getting bars or blocks which are in set masses.

I would stick with coins if I were you, silver shot is almost impossible to sell for a decent price at the other end 

Visit my website for all my Hand Poured Silver: http://backyardbullion.com

And check out my YouTube channel 

https://www.youtube.com/backyardbullion

 

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3 hours ago, GeorgeOwen said:

For me to buy 6kgs of silver the vat is £550 in the UK but Estonia doesn't have any tax on precious metals so I was thinking that flying out which cost £150 would be cheaper to buy the same amount of silver or I could buy more silver than 6kgs and that would be cheaper than me buying 6kgs in England however if I get taxed on the way back it wont be worth it. Is that right

 

If you aren't planning on enjoying the holiday and are going purely to get the silver...¬† just have it shipped. The insured shipping rate for 7kg of silver (I just added 7 x 1kg coins to the basket) is ‚ā¨70 from the European Mint. Save yourself the time, money and worries.

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24 minutes ago, AppleZippoandMetronome said:

If you aren't planning on enjoying the holiday and are going purely to get the silver...¬† just have it shipped. The insured shipping rate for 7kg of silver (I just added 7 x 1kg coins to the basket) is ‚ā¨70 from the European Mint. Save yourself the time, money and worries.

Well a plane ticket is only £50 more so I will fly over and stay a couple days as I've heard the capital of Estonia is beautiful. I will be buying this silver for a personal investment so should I stay away from large bars and shots and stick to 1kg bars or buying 1oz coins.

 

Edited by GeorgeOwen
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Tallinn is beautiful! Great food, great beer and great fun. Check out the Alexander Nevsky cathedral 

ūüí∑ ūüí∑¬†Check out my Wanted adds and message me direct if you can help ūüí∑ ūüí∑¬†

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6 minutes ago, KitboyE17 said:

Tallinn is beautiful! Great food, great beer and great fun. Check out the Alexander Nevsky cathedral 

41 minutes ago, AppleZippoandMetronome said:

 

Well that's sold it for me flying to Tallinn.

Edited by GeorgeOwen
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  • 2 months later...

@GeorgeOwen I was wondering if you did have any troubles with this? I am planning on going to Tallinn at the end of november for the exact same reason - To buy a lot of silver coins. Bringing them back was the concern for me Especially with brexit looming. Might I ask for a follow up on your experience please?

 

 

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