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Is there Tax on Gold Bullion?

Im going to Dubai and will be purchasing 2 24k 1oz Gold Bullions, will I be taxed for this when I return to the uk? If need be I will hide it ahha!

Thank for replies!
It depends on a few things but if you are investing, silver is more worth it right now
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Avatar for NoahMal
NoahMal
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Original post by SalazarSlytherin
It depends on a few things but if you are investing, silver is more worth it right now


I will look into silver, but the gold will be worth £1600 will that affect anything?
Original post by NoahMal
Im going to Dubai and will be purchasing 2 24k 1oz Gold Bullions, will I be taxed for this when I return to the uk? If need be I will hide it ahha!

Thank for replies!

it depends on what you buy as if you buy proper bullion bars and rounds then you won't pay tax but it you but free cast bullion from a back street store you will pay tax on it as it is an unlicensed bar
coins are confusing as you will pay tax on non-currency coins
so sovereigns are tax-free as are Krugerrands, pandas, eagles, Britannias, nuggets and buffalos but you will pay tax on maples and philharmonics
silver is good but bulk is an issue with silver and platinum whilst is virtually mirror to the gold price there will be taxes to pay on it
Original post by NoahMal
Im going to Dubai and will be purchasing 2 24k 1oz Gold Bullions, will I be taxed for this when I return to the uk? If need be I will hide it ahha!

Thank for replies!


Nobody is going to know you have either so who cares! I think there is 20% Vat though could be wrong

I usually buy from Germany or the UK.. now seems a bad time with to buy abroad with Gold jumping massively and the pound falling hard unless you are expecting it to continue much harder

Any reason why you are buying from Dubai?
(edited 7 years ago)
Reply 5
Avatar for NoahMal
NoahMal
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Original post by Betelgeuse-
Nobody is going to know you have either so who cares! I think there is 20% Vat though could be wrong

I usually buy from Germany or the UK.. now seems a bad time with to buy abroad with Gold jumping massively and the pound falling hard unless you are expecting it to continue much harder

Any reason why you are buying from Dubai?


Going on holiday and will take it though security at the airport, I have currently viewed that the price for 1 Oz of 24K gold is £850 hence though of buying some.
Original post by NoahMal
Going on holiday and will take it though security at the airport, I have currently viewed that the price for 1 Oz of 24K gold is £850 hence though of buying some.


Check out hgm + atkinson ... look at theyre prices for 1oz .. work out the exchange rate and price of dubai 1oz and see if its worth it.

Hope this helps

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