Commentary

701/21A/12 Investment gold coins

Part V8 HMRC Notices
Part V8 HMRC Notices | Commentary

701/21A/12 Investment gold coins

Part V8 HMRC Notices | Commentary

701/21A/12
Investment gold coins

January 2012

This notice cancels and replaces Notice 701/21A (February 2011).

1 Introduction

1.1 What does this notice cover?

This notice:

  1.  

    —     explains that an investment gold coin is exempt from Value Added Tax (VAT) and explains which coins can be considered as investment gold coins (see Section 2) and

  2.  

    —     provides revised lists of investment gold coins whose supply is exempt from VAT (in Section 3). Readers are advised that, because there are several changes from previous lists, they should refer directly to the lists for qualifying coins.

You should read this notice alongside Notice 701/21 “Gold” which gives further information about dealing in gold coins.

Main narrative treatment—V4.186.

1.2 Who should read this notice?

Traders dealing in investment gold coins.

2 Investment gold coins

2.1 What is an investment gold coin?

An investment gold coin is:

  1.  

    (a)     gold coin minted after 1800 that:

  2.  
    1.  

      —     is of a purity of not less than 900 thousandths

    2.  

      —     is, or has been, legal tender in its country of origin and

    3.  

      —     is of a description of coin that is normally sold at a price that does not exceed 180 per cent of the open market value of the gold contained in the coin or

  3.  

    (b)     a gold coin on the lists in Section 3.

A coin not on the lists can still be exempt from VAT if it falls within the description at (a) above. But you must be able to show from your business records that any such coin meets the criteria.

You should treat coins that do not

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