# Taking Personal Gold Bars to UK



## aloo_bazi_du ai

I am a UK citizen living and working in Dubai.
I have now resigned from my job and I will bereturning back to my home in UK very soon.

Whilst here in Dubai I purchased some investment gold bars certified 99.9% purity for my personal savings.

I want to take these gold bars back to UK.

Can any one advise what are the rules and guidelines for taking personal gold bars back to UK?

Will I have to pay tax on my savings gold bars????
How do I declare these gold on arriving at Heathrow Airport????
What is the allowed declared/undeclared limits for taking personal savings gold to UK???

I have read the UK HMRC website guidelines....but it makes no sense to me at all.
I am not a gold trader nor did I purchase the gold for business.

I will appreciate if any one can advise who have experienced or knows the law in plain english

Thanks


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## cautious_mover

aloo_bazi_du ai said:


> I am a UK citizen living and working in Dubai.
> I have now resigned from my job and I will bereturning back to my home in UK very soon.
> 
> Whilst here in Dubai I purchased some investment gold bars certified 99.9% purity for my personal savings.
> 
> I want to take these gold bars back to UK.
> 
> Can any one advise what are the rules and guidelines for taking personal gold bars back to UK?
> 
> Will I have to pay tax on my savings gold bars????
> How do I declare these gold on arriving at Heathrow Airport????
> What is the allowed declared/undeclared limits for taking personal savings gold to UK???
> 
> I have read the UK HMRC website guidelines....but it makes no sense to me at all.
> I am not a gold trader nor did I purchase the gold for business.
> 
> I will appreciate if any one can advise who have experienced or knows the law in plain english
> 
> Thanks


If you bring €10,000 or more in cash, or the equivalent in another currency, to the UK from outside the European Union (EU) you must declare it.

Cash includes:

notes and coins
bankers’ drafts
cheques of any kind (including travellers’ cheques)

If you’re travelling as a family you need to declare cash over €10,000.


Penalties
You could face a penalty of up to £5,000 if you don’t declare your cash or give incorrect information.

Your declared cash can be seized by Customs Officers if they have reasonable grounds to suspect a crime. They can keep the cash for 48 hours - after that they need a court order.


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## Stevesolar

I have a suspicion that you would need to pay VAT on gold bullion brought into the UK from overseas.
Cheers
Steve


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## aloo_bazi_du ai

Thanks for the reply Cautious Mover.

I understand the guidelines regarding cash and I have looked at the relevant forms (HMRC-C9011) and its easy to understand and fill in the details.

But my concern is that.... is 99.99% purity Swiss gold square bars considered the same as 99.99 % purity Gold Goins for example...the British Guinea coin or Krugerrand coins or Canadian Maple Leaf Gold coins or American Eagle Gold coins....etc etc...????? 

I understand from the HMRC website......gold coins declared same as cash currency on the same UK government HMRC form C9011....you dont have to pay any VAT or any other form of tax.

I hope to read more replies and clarification from other experienced members.


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## cautious_mover

I think theres 17.5% VAT due on gold bars from what I could see.

I have not had the luxury of being able to worry about carrying gold bars back to UK I am afraid...I am looking forward to that problem one day...

How much gold are we talking about here? Pallets of gold ingots?


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## Stevesolar

Are you sure - thought VAT was 20% these days!!!!


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## cautious_mover

Stevesolar said:


> Are you sure - thought VAT was 20% these days!!!!


Well that's what the site said when I looked briefly earlier. Can't remember the link.

I can't see them not charging VAT as the item is a commodity and as such they will want their fair share.


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## aloo_bazi_du ai

cautious_mover said:


> I think theres 17.5% VAT due on gold bars from what I could see.
> 
> I have not had the luxury of being able to worry about carrying gold bars back to UK I am afraid...I am looking forward to that problem one day...
> 
> How much gold are we talking about here? Pallets of gold ingots?


LoL !....you make it sound like I'm loaded with gold.!!!!!!

I have just resigned from my job here in Dubai and I will be returning back to my home in UK.....so I am getting my End of Service Pay from my employer....it is not a huge amount just over 10,000 GBP.....my life savings !

Because at the moment Dirham to GBPounds exchange rate is rubbish...I am planning to use the Dirhams to buy investment Gold bars...maybe 4x100g bars which will be valued just over 10,000GBPounds

This is why I desperately need to know if I will be taxed (VAT) at any rate 17.5% or 20% when I land at Heathrow Airport.
If I have to pay tax then my life savings nest egg is gojng to be considerably smaller :tsk:

Thats why I need informed advise from any legal expert members here....who have experienced similar situation.


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## m1key

Why don't you call UK Customs or whatever they call themselves these days?

Alternatively open an offshore USD account and convert it to GBP when the rate is better? Better than giving 20% away.


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## Stevesolar

Right - think i have correct answers now!
VAT in UK is definitely 20% - for normal goods.

Gold jewellery imported to UK has import duty of 2.5% and VAT of 20 %

Investment gold bars and investment gold coins are duty and VAT exempt - hurray!!

You can check the above on a really good website called dutycalculator.com and enter appropriate countries, products and values.

Hope the above helps!
Cheers
Steve


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## aloo_bazi_du ai

Stevesolar said:


> Right - think i have correct answers now!
> VAT in UK is definitely 20% - for normal goods.
> 
> Gold jewellery imported to UK has import duty of 2.5% and VAT of 20 %
> 
> Investment gold bars and investment gold coins are duty and VAT exempt - hurray!!
> 
> You can check the above on a really good website called dutycalculator.com and enter appropriate countries, products and values.
> 
> Hope the above helps!
> Cheers
> Steve


Thanks for the reply SteveSolar.

I also came to same conclusion but I wasnt sure if investment gold bars are treated same as investment gold coins and cash money...

I just wanted to make sure by answers from experienced people here....:fingerscrossed:

Now can any one tell me how I declare this to Heathrow Airport customs officials....what forms do I have to fill?????
Is it the same form for declaring cash money????


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## monkiman

I took a 500g gold bar to the UK.. No problems in the UK at all.. (No VAT payable).. Just make sure you take proof of purchase with you through the Airport in Dubai... I was stopped twice and had to provide the purchase invoice from the trader.


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## aloo_bazi_du ai

monkiman said:


> I took a 500g gold bar to the UK.. No problems in the UK at all.. (No VAT payable).. Just make sure you take proof of purchase with you through the Airport in Dubai... I was stopped twice and had to provide the purchase invoice from the trader.


Hi Monkiman,
Thanks for the info and reply.

Can you tell me what form did you fill in at the airport to declare your Gold???
Did you walk out through the customs green or red channel in UK?

I am also thinking taking a similar amount of gold....I have all the purchase receipts from the shop.


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## monkiman

aloo_bazi_du ai said:


> Hi Monkiman,
> Thanks for the info and reply.
> 
> Can you tell me what form did you fill in at the airport to declare your Gold???
> Did you walk out through the customs green or red channel in UK?
> 
> I am also thinking taking a similar amount of gold....I have all the purchase receipts from the shop.


I did not fill in any forms in UK / Dubai . I only had to show the receipt from the gold agent with my name on it in Dubai (Having the name as per my passport on the receipt was critical). In the UK I walked through the green channel.

I ended up selling my gold in the UK and depositing the cash in HSBC ... no questions asked 

The Monkiman


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## aloo_bazi_du ai

monkiman said:


> I did not fill in any forms in UK / Dubai . I only had to show the receipt from the gold agent with my name on it in Dubai (Having the name as per my passport on the receipt was critical). In the UK I walked through the green channel.
> 
> I ended up selling my gold in the UK and depositing the cash in HSBC ... no questions asked
> 
> The Monkiman


Thanks for the reply Monkiman.
Its good reassuring advice. Im feeling more confident to invest my life savings in Gold and take them 
to the UK :fingerscrossed:


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## xxxxxxxxclownfish

I have been looking at buying gold bars for some time now but really don't know where to start, how much to pay and what the process is. Can someone give me advice and perhaps the name of their trusted gold vendor please. I gather gold prices are fairly low at the moment and this may well be a good investment for me. Thanks CF


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## vantage

there was a report on the radio last week suggesting that many large funds internationally are 'falling out of love' with gold...
this is not going to do the gold price any favours if it's true


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## monkiman

Go to the gold Souq and shop around. Take your passport with you.

Look for 995 or 999 purity.

When you buy they'll give you a price over the current spot (kitco) . It's usually fixed as a %... so asking around you can find a good deal. (I think I paid .2% or .25% over).

You can buy 100g, 500g or 1kg bars. I prefer bars.

Remember, for example, If you're buying a 1kg bar at 995 purity - you're only buy 995 grams of gold.

Good luck... Having a 1kg gold bar in your hand feels kinda awesome.

The Monkiman


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## monkiman

vantage said:


> there was a report on the radio last week suggesting that many large funds internationally are 'falling out of love' with gold...
> this is not going to do the gold price any favours if it's true


The gold markets will always be manipulated with ETFs and big buyers and sellers doing crazy things.. I gave up trying to make sense of it all ages ago. 

I only invest in gold and silver as a hedge against banks printing bucket loads of currency and causing deflation in purchasing power of that currency. 

At somepoint all that printing of currency is going to cause inflation in the USA. And here we're pegged to the dollar... that'll be interesting.

Printing money has never failed to cause inflation... too much printing will cause hyper inflation... Think it'll never happen to the US? Well.. I hope not but I'm prepared just in case.

4000 years ago an ounce of silver could buy you a shirt. Today... We'll it's about the same.

Price your lifestyle in gold and silver... work out how much you'd need to survive for 3-5 years ... Have that amount stashed at home (not in a bank vault).

The Monkiman


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## aloo_bazi_du ai

clownfish said:


> I have been looking at buying gold bars for some time now but really don't know where to start, how much to pay and what the process is. Can someone give me advice and perhaps the name of their trusted gold vendor please. I gather gold prices are fairly low at the moment and this may well be a good investment for me. Thanks CF


You can go to any of the many gold jewelers in Dubai.....your safe bet is either DAMAS or Malabar gold shop jewelers.
All the shops will charge you exactly same price according to gold rate on the day....you may try to haggle on the certification and documentation fees...they will vary shop to shop.


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## telecompro

aloo_bazi_du ai said:


> You can go to any of the many gold jewelers in Dubai.....your safe bet is either DAMAS or Malabar gold shop jewelers.
> All the shops will charge you exactly same price according to gold rate on the day....you may try to haggle on the certification and documentation fees...they will vary shop to shop.


Hi,

Any of you guys tried buying gold online from gold.ae? Are they trustworthy? I believe they charge some commission as well if you ask for the bars to be delivered to you physically?

Any suggestions on the the exact places to buy gold from?


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## aloo_bazi_du ai

telecompro said:


> Hi,
> 
> Any of you guys tried buying gold online from gold.ae? Are they trustworthy? I believe they charge some commission as well if you ask for the bars to be delivered to you physically?
> 
> Any suggestions on the the exact places to buy gold from?


Best way to buy Gold bars in Dubai is go to the go
Shops that sell only bars you will get best prices. It will be less than the famous jewelry shops.
Also best to buy in person this way you can see the items and feel it before you handover your cash.
Gold prices in Dubai is at lowest prices now since long time. Its a good time to buy.
:cell:


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## telecompro

aloo_bazi_du ai said:


> Best way to buy Gold bars in Dubai is go to the go
> Shops that sell only bars you will get best prices. It will be less than the famous jewelry shops.
> Also best to buy in person this way you can see the items and feel it before you handover your cash.
> Gold prices in Dubai is at lowest prices now since long time. Its a good time to buy.
> :cell:


Can u please suggest some shops? Thanks alot for ur help


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## karlmichael

*Buy gold in the uk it is capital gains and VAT free*



aloo_bazi_du ai said:


> LoL !....you make it sound like I'm loaded with gold.!!!!!!
> 
> I have just resigned from my job here in Dubai and I will be returning back to my home in UK.....so I am getting my End of Service Pay from my employer....it is not a huge amount just over 10,000 GBP.....my life savings !
> 
> Because at the moment Dirham to GBPounds exchange rate is rubbish...I am planning to use the Dirhams to buy investment Gold bars...maybe 4x100g bars which will be valued just over 10,000GBPounds
> 
> This is why I desperately need to know if I will be taxed (VAT) at any rate 17.5% or 20% when I land at Heathrow Airport.
> If I have to pay tax then my life savings nest egg is gojng to be considerably smaller :tsk:
> 
> Thats why I need informed advise from any legal expert members here....who have experienced similar situation.


Hi there I have been studying this for a while it is better to buy on a uae bank wire through the company world first with no fee find them online. Buy gold from ''goldline'' in the ukand wire them the money they post to your address in the uk, no tax, no customs and no worries you will lose less than .5% of your wealth this way and the price ob bullion and coins is similar to the gold in the emirates. Without certification which is usually 100 AED per piece. It is much easier to buy from baird's in london... hope this helps...


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## Khuzama

*I need help*



aloo_bazi_du ai said:


> Thanks for the reply Monkiman.
> Its good reassuring advice. Im feeling more confident to invest my life savings in Gold and take them
> to the UK :fingerscrossed:


Hello, 

I know this post is quite old, but it would be great if you can advise me on the subject as i am planning to do take Gold Bars from Dubai to the UK. bare in mind I am not a UK Citizen, 

I hope you can shed the light on that since you have been through this experience.

Thank you


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## Stevesolar

Khuzama said:


> Hello,
> 
> I know this post is quite old, but it would be great if you can advise me on the subject as i am planning to do take Gold Bars from Dubai to the UK. bare in mind I am not a UK Citizen,
> 
> I hope you can shed the light on that since you have been through this experience.
> 
> Thank you


Hi,
Gold bars do not attract VAT if you bring them to the UK - they are exempt.
Cheers
Steve


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## Khuzama

*Khuzama*



Stevesolar said:


> Hi,
> Gold bars do not attract VAT if you bring them to the UK - they are exempt.
> Cheers
> Steve


Thanks a lot for the prompt response. 
It is great news. However, I need to know:
1- is there a limit of how many I can carry ?
2- Do I need to declare them or do any official paperwork before arrival since I am not a UK Citizen and will be coming on a temporary stay visa ?
many thanks


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## Khuzama

Hi Again 

Any advise on my follow question please?

Thnks


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