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<p>[QUOTE="Ekalabya Ghosh, post: 5415359, member: 111371"]Hi [USER=96746]@robp[/USER] , first of all, thanks a lot for the information. This is exactly a kind of thing I was looking for. I would really grateful if you can kindly help me with a few more questions. </p><p><br /></p><p>I am in favour of describing items properly. Can you please tell me apart from mentioning the exact product (item) in the package + cost, is it necessary to mention that this is a 'numismatic item' anywhere? </p><p><br /></p><p>Just to confirm, when you say 5% on any other item you mean coins (silver, bronze and copper) irrespective how old or new will be? </p><p><br /></p><p>In the case of investment gold - Is there a rule that it is tax-exempt if it is sold at a price that does not exceed 180% of the open market value of the gold contained in the coin? If that is the case then if I pay more than double how much tax will I be charged? Is it 5% or 20%? </p><p><br /></p><p>Another thing to clarify if my understanding is correct - the statement 'sold at a price that does not exceed 180% of the open market value of the gold contained in the coin' - to me this means if I am buying a sovereign which has a spot price of it is £320 I should not purchase it above 576 pounds. Is this assumption correct? </p><p><br /></p><p>Is there a possibility of any other charges (I have absolutely no idea what it can be and assuming import vat and import charge is the same thing) in terms of import apart from the 5% VAT? </p><p><br /></p><p>I really do apologize to ask so many questions. The reason I am asking this is that I don't have a problem in paying anything which is valid. I would like to know the process and be prepared about what extra I have to pay apart from the hammer price and BP. </p><p><br /></p><p>Thanks once again [USER=96746]@robp[/USER].</p><p><br /></p><p>Hope to hear from you soon. </p><p><br /></p><p>Kind Regards, Ek.[/QUOTE]</p><p><br /></p>
[QUOTE="Ekalabya Ghosh, post: 5415359, member: 111371"]Hi [USER=96746]@robp[/USER] , first of all, thanks a lot for the information. This is exactly a kind of thing I was looking for. I would really grateful if you can kindly help me with a few more questions. I am in favour of describing items properly. Can you please tell me apart from mentioning the exact product (item) in the package + cost, is it necessary to mention that this is a 'numismatic item' anywhere? Just to confirm, when you say 5% on any other item you mean coins (silver, bronze and copper) irrespective how old or new will be? In the case of investment gold - Is there a rule that it is tax-exempt if it is sold at a price that does not exceed 180% of the open market value of the gold contained in the coin? If that is the case then if I pay more than double how much tax will I be charged? Is it 5% or 20%? Another thing to clarify if my understanding is correct - the statement 'sold at a price that does not exceed 180% of the open market value of the gold contained in the coin' - to me this means if I am buying a sovereign which has a spot price of it is £320 I should not purchase it above 576 pounds. Is this assumption correct? Is there a possibility of any other charges (I have absolutely no idea what it can be and assuming import vat and import charge is the same thing) in terms of import apart from the 5% VAT? I really do apologize to ask so many questions. The reason I am asking this is that I don't have a problem in paying anything which is valid. I would like to know the process and be prepared about what extra I have to pay apart from the hammer price and BP. Thanks once again [USER=96746]@robp[/USER]. Hope to hear from you soon. Kind Regards, Ek.[/QUOTE]
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