Taking gold coins out of UK on a plane - what forms to complete?

[Coverte]

15 hours ago, noddycoder said:

There's currently no IHT in the destination country, although that could change PDQ when the gold price goes to where I think it's going. I'm gifting these now because IMO international travel for the plebs is only going to become more restricted, as pandemic controls morph into climate emergency controls.

Also, I'm sure you're aware of the 7 year rule that any gifts to children are IHT-free if the donor lives 7 years after gifting.

 

Yes, I'm very aware of IHT having gone through a series of excercises with my accounting and legal firms, including giftings; so well aware of the 7 year rule and most other of IHT implications if mitigating actions are not taken, as you also appear to be doing - on which point I would just add, as you dobtless will know by now - the country of residency of your benificaries will have no correlation to the tax payable within UK - always assuming you are deemed a UK resident yourself, IHT will be payable, albeit tapered in cases below 7 years. 

[Paren]

From my experience, I’ve not faced many issues with coins as I can legitimately say that a once ounce gold Brit as legal tender is £100 (for example). 

Gold bars are trickier as they don’t have a denomination. 

[CollectorNo1]

Unfortunately customs don't see it that way..and know the true value of a £100 denomination gold coin is significantly higher than its face value.....😲

[noddycoder]

UPDATE: Well, here's what happened on my travels from LHR to the EU destination:

Arrived really early at LHR for the morning flight, self checked-in my large bags and handed them over at the bag drop desk. Went through to security carrying the coins in my shoulder rucksack.

Asked the nice security lady for a private screening of my rucksack as it contained high value coins. She had a chat with her supervisor and ushered me into a private room just off the main hall. I put the coin boxes on the desk, she ran a swap over the boxes, tested the swab and wished me a pleaseant joureny.

Walked to the airside Customs office just around the corner from security, picked up the red phone and said I needed to make a cash declaration. With in 15 minutes a couple of customs officers walked by and led me into a private room. I gave them my pre-filled cash declaration forms. They briefly inspected one of the coin tubes from one of the boxes, stamped my cash dec. form and wished me a pleasant journey.

Got on the plane with no questions asked regarding contents of hand luggage, vaccination/test status or registration forms.

Arrived in EU country, got past passport control, picked up large bags and went through "Red Zone" exit. Approached a customs officer saying I had some goods to delare, was ushered into the customs office, they were expecting my arrival as I had emailed them the previous day. Gave them the EU cash declaration forms. They were super friendly and very interested in the coins. Forms were stamped and I was on my way.

So... ...a huge sigh of relief, everything went smoothly. I took way too much paperwork and documentation with me, almost none of it was asked for. 😊

 

Edited September 7, 2021 by noddycoder
sp.

[modofantasma]

Glad all was OK 👍🏽

[CollectorNo1]

Glad it went well..as for documentation, you can never take too much...it could of gone the other way where you would have been glad of the documents you took...each country is different and each customs and excise agents are different...I think you had a bit of luck on your side getting through both here and your final destination without any hassle...but good to know all went as planned..🙂

[Foster88]

That’s good to know it went as well as it could have done.

If it hadn’t, this would have been an option but I still wouldn’t advise this.... 😬

Edited September 10, 2021 by Foster88

[modofantasma]

3 hours ago, Foster88 said:

That’s good to know it went as well as it could have done.

If it hadn’t, this would have been an option but I still wouldn’t advise this.... 😬

I'm sure my hairdresser has a pair of bolt cutters on her just incase 

Just now, modofantasma said:

I'm sure my hairdresser has a pair of bolt cutters on her just incase 

Alright luv I'm just going to do your fringe with the angle grinder, chin up