Could my luck with imported silver really be changing??

Any "stacker" living here in the UK knows the pain of overpriced silver!! So to get around this we sometimes like to buy from overseas.

Well when buying from anywhere outside the euro zone, we get stuck with a bill from Her Majesties Revenue & Customs(HMRC) for not only import tax but VAT also.

(screen shotted from hmrc.gov.uk)

Now there are a few loop holes, which I'm not recommending you do as that would be breaking the law, that can reduce the amount you pay to HMRC and I'll list them below:

° ALWAYS get the sender to mark the contents as "GIFT". This gives you a higher threshold before fees are applied.

° You can ask the sender to elaborately describe the silver in a way that makes it sound less valuable; i.e. Instead of "999, 1oz,fine Silver coin" you can call it a "31g metal paper weight"

° You can ask the sender to value them at $1 and not $20, to keep it under the £39 ($50US approx). As long as you understand that insurance may not payout full value if declared value is less.

But I'm not advocating or telling you to do that as that would be dishonest!!!

But sometimes HMRC ignore all of the above and just charge you what ever they want.....

So it's your duty to correct them and point out that they shouldn't have charged you an extortionate amount of money.

A while back I received a shipment of silver that was elaborately described, completely under valued and sent as a GIFT but I still received a hefty ransom, sorry I mean tax bill. Well of course I questioned this....

I sent all the details they requested even pointing out thier own laws and then waiting for me when I got in today was a letter.

It's taken about 3 months to reach this point, yet when they believed I owed them, I had 7days to pay up or my items would be confiscated.

Ohh yeah and did you notice the £11.25 ($14.50US) they charge to tell you that you owe them money, I will be getting that back too!!

Hopefully this means the end to my bad luck of having silver sent to me from USA/CANADA.....

How do I test this?? I know, let's order some more 😉

What a bunch of cunts, can't wait for the day government doesn't exist.

I hear you there buddy. Well one that puts the people before profits and corporations would be nice.

I am so sorry they do this, this need to be changed. Does this apply to UK minted Silver & Gold coins or US Silver coins? British Sovereigns?

Thanks for the question. This applies to anything imported from outside the euro zone. When buying silver in the UK, we get a 20% tax added on top.... So they screw us over what ever way we go

Good times and good things are coming for ya Welshie!

😁🤣

Hope so D. Run of bad luck has come to a long over due end!! 🍆

Thank you for your continued support of SteemSilverGold

Hopefully, things will start to look up @welshstacker! It does seem like they are charging quite a bit with all the taxes.

"quite a bit"... It's day light robbery my friend. At least bank robbers wear masks, these thieves are as bold as brass and don't care.

Glad your luck seems to be changing. That's crazy that they charge you $15 just to tell you that you have a fee to pay. Ridiculous!

They have to cover their cost..... It's a bloody joke and we are meant to be grateful to them for it!

Finally some good news - If I had to put up with all that crap and VAT - I might not have ever become a stacker..scary to think how many have been discouraged.

It's crazy!! It also kills the secondary market because everything has to be sold with VAT of 20% added on top.... We are screwed what ever way we play the game over here in the uk

So should I decide to send you a gift it better be 38.99 or less.

Exactly or just call it £3.89 just to be extra safe.

Hey nice you got a win. Getting the ransom paid back is amazing.