VAT Free Silver Bars
With a growing global interest in silver investment, tax efficiency and value are paramount. While we’ve been storing silver (both bars and coins) offshore for years now, more of our customers wanted to take delivery of bars, but still, be VAT-Free! Now, for the first time, we’re able to offer this service. All the bars in this section are for delivery only and do not attract VAT due to their unique ‘Coin Bar’ status.
Silver bars (which are also often called ingots) as the name suggests are bars of silver. Due to the price differential when compared to gold bars, buyers will find that silver is available in much larger bar sizes. Here at Physical Gold, we stock sizes from 1oz, right up to a very hefty 5kg. In general, lower bar sizes are more divisible but this matters less when buying silver as the metal is so cheap (by comparison to gold) in the first place.
A range of manufacturers are available for silver bars. Beware as “all that glitters is not silver!” An important aspect of your investment is the quality of the silver purchased. Manufacturers we stock include Argor Heraeus and Umicore as well as bar products from Mints such as the Perth Mint and the Royal Canadian Mint. The minimum quality level of any silver bar we stock is 999 fineness. It’s important for investors to know the quality of what they are buying as this will impact the price paid. The higher the purity level, the more an investor can expect to pay for each bar.
It’s not only the initial buying of silver, which is important. The ongoing security of your investment also needs to be considered. Storing silver is possible at home or in a recognised secure vault. The choice is yours.
Personal storageWe can arrange for the physical delivery of silver you buy online from us and you can make your own storage arrangements (e.g. store at a home or in a bank safety deposit box). If you take the option of storing at home, always remember to update your home insurance details (which will almost certainly attract a premium).
Storage in a vaultFor larger purchases, silver brokers can offer storage in a recognised silver bullion vault. This has the benefit of keeping your investment secure whilst also maintaining a written record of ‘Good Delivery’. It is always worth enquiring at the time of purchase about storage options as this may impact your investment decision on the day.
Unlike investment gold, when you buy bars of silver in the UK, they are not exempt from VAT and attract an additional price of 20% on top of the silver price. Irrespective, the demand for silver bullion and coins is on the rise. We wanted to offer investors the opportunity to benefit from building a diverse portfolio without paying VAT. These bars capitalise on a couple of loopholes to provide the opportunity of buying bars without the VAT. Firstly we source these bars carefully from within the EU to trigger the non-double taxation clause. Secondly, like Silver coins, these unique bars have a face value. Ticking both these boxes means we’re able to provide the exceptional value of delivery VAT-Free bars of silver, saving you 20%! Don’t forget, if you need storage solutions for silver we offer that too.
Basically, these are 999.9 purity Silver bars with the vital difference that they each have their own Face Value. In the same way, the Face Value of UK coins such as the Britannia, Sovereign and Lunars means investors can trade them without incurring VAT, so the face value of these bars prevents the need for VAT.
Producing coins has a higher relative cost of production when compared to manufacturing bars. Using economies of scale, bar manufacturers can reduce the individual mark-up on each piece and pass these on to the consumer. Combined with the fact that silver bars which are VAT free (as well as gold bars), the comparative costs for the same quantity of silver in coins would be much higher. This means that investors can secure much larger increments. Watch our related YouTube video - "Silver bars or silver coins - which is the best investment?"
Before investing in silver, we would recommend any investor to undertake research. The following two guides we have published should prove invaluable to all silver investors:
All the products featured on this page can be bought directly from Physical Gold Limited. Purchase a wide-variety of denominations to suit your investment requirements, remembering that larger investments tend to be more efficient in buying the maximum silver for each £ spent. Call us on 020 7060 9992 or view our contact details here.