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Reduce VAT on Silver Bullion & Coins

Submitted on Thursday 4th August 2011

Published on Monday 15th August 2011

Current status: Closed

Closed: Wednesday 15th August 2012

Signatures: 25

Tagged with

EU ~ Tax ~ UK

Petition Action

Reduce VAT on Silver Bullion & Coins

Additional Information

Precious metals for investment purposes like gold are not subject to VAT. Silver however attracts full VAT of 20%. In many countries there is no VAT or sales tax on investment grade precious metals including silver. Across most of the EU silver is rated at lower VAT rate of 7%. UK residents pay 20% VAT on purchasing silver for investment but pay 7% if bought in the EU. This seems very unfair for investors wishing to hold silver rather than gold.

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