Import tax on investment gold from Apmex

[JamesH]

Evening all. Would like to buy a couple of bits from Apmex (gold bars). Other then their $50 delivery charge to the UK are there any other taxes I should be wary of. As investment gold I believe it’s exempt of VAT but want to be sure of my total costs before pulling the trigger. Thanks for any advice 👍🏼

[Spyder]

I too would like to know as I would phone Tim from Yankee stacking and buy some gold from him. Victoria Sovereigns out there seem to be going for spot and in excellent condition

Edited April 5 by Spyder

[James32]

Basically as far as I know depending on courier it may get tacked on. You will then be able to claim back though.

[jackflash123]

This is merely a suggestion:

It may be worth asking others if a group order could be possible. This may allow others to buy from Ampex who wouldn't normally get the chance.

However this may not be desirable for you, if import duty is to be applied, unless all parties agree to pay their share of import duty when and if you get charged, which as @James32 mentioned can be claimed back.

 

[Xander]

I bought Gold coins from Apmex a few years back. I had a terrible time with the courier company. They were scamming people, demanding extra money for customs clearance. It took me about 5 weeks to get my money back. I had to contact Apmex directly. The courier company sent two couriers to my door demanding an extra £43.00 before handing over the coin, that was on top of Apmex's cost for delivery. Apart from that, Apmex was fine. 

I think it's a case of pot luck.

[James32]

46 minutes ago, Xander said:

I bought Gold coins from Apmex a few years back. I had a terrible time with the courier company. They were scamming people, demanding extra money for customs clearance. It took me about 5 weeks to get my money back. I had to contact Apmex directly. The courier company sent two couriers to my door demanding an extra £43.00 before handing over the coin, that was on top of Apmex's cost for delivery. Apart from that, Apmex was fine. 

I think it's a case of pot luck.

Yeah I've heard similar stories also.

[BackyardBullion]

11 hours ago, JamesH said:

Evening all. Would like to buy a couple of bits from Apmex (gold bars). Other then their $50 delivery charge to the UK are there any other taxes I should be wary of. As investment gold I believe it’s exempt of VAT but want to be sure of my total costs before pulling the trigger. Thanks for any advice 👍🏼

I just bought a gold coin from Apmex last week and delivered this week.

I got a call from UPS asking for my email address so they could send a form for me to sign as a declaration that the contents are investment gold and therefore exempt of tax and duty. 

Signed it, emailed it and coin delivered with zero fees or taxes. 

However, Fedex (sometimes used by Apmex) charged me tax on a £2k gold order last year and I had to claim that back with HMRC as they were just not listening to me to get it sorted. In that situation I got the tax back but the £18 fedex handling fee was not reimbursed. 

[AndrewSL76]

22 minutes ago, BackyardBullion said:

I just bought a gold coin from Apmex last week and delivered this week.

I got a call from UPS asking for my email address so they could send a form for me to sign as a declaration that the contents are investment gold and therefore exempt of tax and duty. 

Signed it, emailed it and coin delivered with zero fees or taxes. 

However, Fedex (sometimes used by Apmex) charged me tax on a £2k gold order last year and I had to claim that back with HMRC as they were just not listening to me to get it sorted. In that situation I got the tax back but the £18 fedex handling fee was not reimbursed. 

This 👆

I have bought from APMEX (graded coins) and each time I have just completed the declaration form sent to me. 

I have also had issues with FedEx (for returning PCGS orders) who sometimes don’t contact me at all (usually their GTSClearance team in Stansted) and just deliver the items with an invoice that follows. However, I have never had to pay as I just email them the information and refuse to pay the invoice. Each time it has been written off given that they have accepted that there was no payment due. I do have the email address for their executive team in Coventry though, which has always helped….

[JamesH]

1 hour ago, BackyardBullion said:

I just bought a gold coin from Apmex last week and delivered this week.

I got a call from UPS asking for my email address so they could send a form for me to sign as a declaration that the contents are investment gold and therefore exempt of tax and duty. 

Signed it, emailed it and coin delivered with zero fees or taxes. 

However, Fedex (sometimes used by Apmex) charged me tax on a £2k gold order last year and I had to claim that back with HMRC as they were just not listening to me to get it sorted. In that situation I got the tax back but the £18 fedex handling fee was not reimbursed. 

 

34 minutes ago, AndrewSL76 said:

This 👆

I have bought from APMEX (graded coins) and each time I have just completed the declaration form sent to me. 

I have also had issues with FedEx (for returning PCGS orders) who sometimes don’t contact me at all (usually their GTSClearance team in Stansted) and just deliver the items with an invoice that follows. However, I have never had to pay as I just email them the information and refuse to pay the invoice. Each time it has been written off given that they have accepted that there was no payment due. I do have the email address for their executive team in Coventry though, which has always helped….

Thank you both very much, feel very reassured after your advice. Shall go ahead and place an order 👍🏼

[AndrewSL76]

2 minutes ago, JamesH said:

 

Thank you both very much, feel very reassured after your advice. Shall go ahead and place an order 👍🏼

Good luck!!