closed 100 gram 999 silver bars

[sellerstacker]

All,

As you are aware I am looking to liquidate some of my holdings. In doing so I have freed up a few "100 grams" 999 silver bars for sale. I am offering them at spot + 15% + VAT. At current prices that would be about £ 85 for a 100g bar.

I don't want to complicate things. However, with the price of silver changing constantly I don't want to give a fixed price per bar. My prices will always be 15% over spot and I will have to pay VAT, which I will pass on to the buyer.

Postage would be at cost and the buyer's choice. Special delivery is recommended as it provides insurance and would be £7.65 (for up to 250g or 2 bars).  All other postal modes are at buyer's risk though I will always obtain proof of postage.

Any questions drop me a line.  

[Jimmock]

I might just be being stupid,but why is there vat on top. Surely a sale between two private individuals is vat free?

[ilovesilverireallydo]

5 minutes ago, Jimmock said:

I might just be being stupid,but why is there vat on top. Surely a sale between two private individuals is vat free?

Because he’s acting as a business and as such has to sell with VAT. He paid vat on the original bars and has to charge that forward. 

[sellerstacker]

7 minutes ago, Jimmock said:

I might just be being stupid,but why is there vat on top. Surely a sale between two private individuals is vat free?

@ilovesilverireallydo - many thanks for clarifying

There is nothing called a "stupid question". I have to pay VAT on these bars as silver is not VAT exempt in the UK. Any form of silver purchase attracts VAT within the UK. I have paid VAT to the refiners when I purchased these bars. Also, I will be selling as a biz and can provide invoices that reveal the amount of VAT that I have paid the refiners. 

I will only try to recoup what I paid the refiners and hand it over to HMRC, who will in turn refund my VAT expenses. Complicated stuff this, no wonder so many businesses are petitioning for VAT to be removed and replaced with a simple sales tax of sorts. So in essence this is a cut for HMRC, for the government to allow us the privilege of owning the white metal 🙂