Customs allowances re-entering the UK

NorthFin

I am trying to find out the customs allowence for bringing back silver bullion into the UK? I think I remember ShawnfromAfrica saying it was about 20 oz per individual or something before you have to declare it?

Also as long as VAT has been paid in the country you bought it from and you have the reciept to prove it, then you should not be charged VATn again bringin it into the UK should you?

If you have under the allowence, can you go through nothing to declare? Or should you go through goods to declare just to be safe?

shaun_from_Africa

If the bullion was purchased in an EU country with the relevant VAT being paid on the purchase then there is no limit as to how much you can bring back with you.
It is the same if you buy from another EU country and have it shipped by courier to the UK. Again, if VAT is paid in the country of purchase, you can import as much as you like.
Generally the difference is if you buy at a distance and have it shipped to the UK you will pay the UK VAT rate but if you buy in a shop whilst in another EU country then you pay their VAT rate.

Up until a short while ago, Germany had a VAT rate of 7% on silver coins and bullion so it was worthwhile buying from there (you had to physically buy it yourself and not buy at a distance for shipping to the UK).
Now that the VAT on silver has risen to 19% there it's no longer worth doing.

InsideInsurance

Which country are you considering buying from?

Rules, and which channel to use, will vary depending on if you are buying from within the EU or outside

NorthFin

A group of us are travlling around Asia.

I have asked some of the others if they will take a little silver bullion back to the UK for me.

I just need to find out what is the max allowence for each individual?

I think is about 20 troy ounce or something, or is it calculated max a few hundred pounds worth or something? I just want to know the max allowances before fee's need to be added on. If it was cigaretts or alcohol then there is loads of info, but I cant find silver money. If it has a monetary value stamped on it, do you go by that or the weight of the coins? I mean US silver eagles have $1 stamped on them for example?

I just cant find silver bullion on the customs website, what is it classed as?

martindow

NorthFin wrote: »

A group of us are travlling around Asia.

I have asked some of the others if they will take a little silver bullion back to the UK for me.

I just need to find out what is the max allowence for each individual?

Customs allowances of £390, I think, for bringing items into the UK that are intended for personal use which won't be the case for your friends.

If you are bringing items in that are for commercial use VAT and duty will be payable in any case.

InsideInsurance

martindow wrote: »

Customs allowances of £390, I think, for bringing items into the UK that are intended for personal use which won't be the case for your friends.

£390 is their total limit so if they are bringing in their own purchases then this limit would be eroded. Looking at https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/262685/Travelling_to_the_UK.pdf there doesnt seem to be any special mention of bullion.

In theory you cannot pool your groups limits so they'd need separate receipts for their own purchases and you'd need to convince customs if stopped that its coincidental that you all decided to buy maximum amount of silver allowed.

Reality is that your chances of being caught are slim but the consequences of smuggling if caught arent good and may be worse if you arent a british national etc.