Best storage options for silver bars

Silver bars: VAT and tax facts

Every figure links to its source. Primary sources are mint publications and Freedom of Information responses. Secondary sources are Wikipedia, catalogues and dealers, used only where no primary figure is published. Where sources disagree we show both.

Key facts and key dates

• Investment gold is exempt from VAT in the UK under HMRC Notice 701/21. The exemption does not cover silver. [1][2]
• Silver bars bought in the UK carry VAT at 20%. [3][2]
• Some dealers sell silver without VAT only while it stays in their storage. [4]
• UK silver coins struck by the Royal Mint are exempt from Capital Gains Tax, while silver bars are not. Tax rules change, so check your own position with an adviser. [2]

Download this data as a spreadsheet: silver-bars.csv

Sources

1. HMRC: gold acquisitions, imports, investments and VAT (Notice 701/21) Primary
2. Britannia Coin Company: VAT on gold and silver bullion Secondary
3. Gold.co.uk: VAT on bullion Secondary
4. The Gold Bullion Company: VAT-free silver Secondary