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Original poster

Gold bars

29 replies

CroftingCarrie · 02/06/2024 19:33

If I bought gold and hid it under the floorboards for 40 years could my DC just sell it without any paperwork?

I am watching a series about Brinks Mat which has prompted my question.

OP posts:
mathsAIoptions · 02/06/2024 22:09

gernute · 02/06/2024 20:55

I have sold gold coins for a five figure sum without any receipts or proof of ownership, though I did have to submit some ID (passports and proof of address). I had bought them a few years before (and some of them were bought from the dealer that I sold it back to, so perhaps they checked back on those records). Tax free (mostly Britannias) and sold to a dealer in Hatton Garden.

Did you have to take it in? Courier it? I get weird when I take £100 out at a cash point 😅

facelace · 02/06/2024 22:13

VolvoFan · 02/06/2024 20:55

Gold coins such as sovereigns are legal tender with a face value of £1, which makes them exempt from capital gains tax. Gold bars are exempt from VAT because it's an investment. BullionByPost says their bars/bullions are exempt from VAT because it's investment, I'm not sure how far that rule extends.

Wait til starmer hears about this

ladygindiva · 02/06/2024 22:29

fortifiedwithtea · 02/06/2024 20:06

I thought this thread would be how scandalously Gold Bar biscuits have shrunk 😂

Same 🤣

gernute · 03/06/2024 01:00

mathsAIoptions · 02/06/2024 22:09

Did you have to take it in? Courier it? I get weird when I take £100 out at a cash point 😅

Show quote history

I took it in as it's a bus ride away. Cheaper than sending Special Delivery, but they'll accept items sent in too.

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