Flying with/importing gold sovereigns - from EU to UK

[Fozi]

Hello all! Have spent some time trying to find an answer online but I am not getting anywhere... I hope fellow members can help!

I am looking at purchasing some gold sovereigns while travelling within the EU, I will then be flying back with them. They will be for my personal collection and I am not a 'trader' nor do I plan to sell them. I am unsure if I need to declare the sovereigns or what tax may be applicable or limits on what one can bring in. Any experience/ expertise would be highly appreciated. 

Thank you in advance, Fozi.   Flying with/importing gold sovereigns - from EU to UK

[BackyardBullion]

The following is not formal advice, just my understanding of how it works.

Until the end of December the UK is on the Transition period meaning we are still working under free movement of goods.

You can travel with any amount you like as long as the goods were purchased in the EU. No additional taxes need to be paid when you enter the UK.

You will need to declare the gold upon entry if it is over the cash or equivalent value limit, I'm not sure what this is but I seem to remember €10,000 or equivalent. This is done on the value of the gold content not the nominal face value of a coin.

So basically if you don't have more than that it's not a problem and no declaration needs to be made.

More than the €10k then declare it, but if you have proof you purchased in the EU then happy days, no taxes.

 

[Oldun]

I have flown with about 20 sovs in my wallet, no problem whatsoever. Went through X Ray as with all carry on items. Absolutely no bother at all. Could have taken more up to 10K without declaring. BackyardBullion is spot on with his advice.

[Fozi]

@BackyardBullion & @Oldun 

Thank you very much to you both. This is pretty much what I understood but you know how the .gov website spins you in circles! Thank you again for taking the time to respond. 

[coinz123]

11 hours ago, BackyardBullion said:

The following is not formal advice, just my understanding of how it works.

Until the end of December the UK is on the Transition period meaning we are still working under free movement of goods.

You can travel with any amount you like as long as the goods were purchased in the EU. No additional taxes need to be paid when you enter the UK.

You will need to declare the gold upon entry if it is over the cash or equivalent value limit, I'm not sure what this is but I seem to remember €10,000 or equivalent. This is done on the value of the gold content not the nominal face value of a coin.

So basically if you don't have more than that it's not a problem and no declaration needs to be made.

More than the €10k then declare it, but if you have proof you purchased in the EU then happy days, no taxes.

 

I wanted to know this too, as I think it’s always a good idea to take a few on holidays with you as a back up just in case anything ever turned sour. 

[silenceissilver]

11 hours ago, BackyardBullion said:

I seem to remember €10,000 or equivalent.

I remember 10K£, not Euros. That would be a difference of about 3 Sovereigns. To me that would make more sense, entering the UK, but my advice isn't "official", either, it's just what I remember.

I once travelled from the EU to the UK with one ounce of gold, plus 2 one ounce size silver coins in the hand lagguage. No problem whatsoever. I could clearly see them in the hand lagguage scanner, together with my maybe 30 fiat coins, all considerabley smaller in diameter. At the airport where I took off, they also asked me if I had any metals, I said, yes, gold and silver, no more questios were asked.

[BackyardBullion]

1 minute ago, silenceissilver said:

I remember 10K£, not Euros. That would be a difference of about 3 Sovereigns. To me that would make more sense, entering the UK, but my advice isn't "official", either, it's just what I remember.

I once travelled from the EU to the UK with one ounce of gold, plus 2 one ounce size silver coins in the hand lagguage. No problem whatsoever. I could clearly see them in the hand lagguage scanner, together with my maybe 30 fiat coins, all considerabley smaller in diameter. At the airport where I took off, they also asked me if I had any metals, I said, yes, gold and silver, no more questios were asked.

€10,000 according to gov.uk for outside the EU and inside the EU as much as you like!

 

[Oldun]

When we leave for real, that may change to £10K ? Or stay in € ?

[Fozi]

thank you for info all.