This guidance note provides an overview of the VAT treatment of supplies of investment gold and gold coins. For supplies of non-investment gold see the Gold ― supplies of non-investment gold guidance note for more information.
See the Flowchart ― is the supply of gold within the scope of UK VAT? for further assistance on determining the correct VAT treatment of the transaction.
What is investment gold?
Supplies of investment gold are exempt from VAT (subject to the option to tax explained below).
Investment gold is:
- •
gold with a purity of not less than 995 thousandths supplied either as a bar, wafer or of a weight acceptable to the bullion markets
- •
a gold coin that qualifies as an investment gold coin
Investment gold coins
HMRC has published a list of investment gold coins and included a link to it in the online edition of Notice 701/21A. An investment gold coin is either (a) a coin included in the list published by HMRC that is current at the relevant time,
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