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<p>[QUOTE=&quot;tulipone, post: 2078707, member: 71656&quot;]Sorry OP - one last attempt.</p><p><br /></p><p>Any reputable business doesn&#039;t really get involved with cash / under the table deals anymore.&nbsp; Lets agree to ignore that and stuff you chance upon at bootsales etc</p><p><br /></p><p>Business in the UK MUST register for VAT when they turn over in excess of £81,000 PA of VAT taxable turnover but can register voluntarily far below this.&nbsp; Actually £81k of turnover is pretty low for any business - if it were your only income for the year you&#039;d be likely far lower than the minimum wage.&nbsp; Being registered for VAT means that you can offset VAT paid against VAT charged.&nbsp; If a business charges VAT then the customer pays the business and the business pays the tax man.&nbsp; The VAT on the product the business buys to sell is thereby nullified.&nbsp; If you buy from Atkinsons Bullion / BullionByPost or other such businesses, this is their model with the VAT charged in addition to the basic cost.</p><p><br /></p><p>If the business is not registered for VAT then they pay for the item + VAT and then absorb that charge until they sell the item to you.&nbsp; You still pay the VAT but it is in effect hidden and not split down on your receipt.&nbsp; Buying from a small eBay distributor is likely to be this model.&nbsp; Unless they avoided the tax somehow, they are selling a secondhand item (that probably once had VAT charged on it) or the tax is absorbed into the cost price and passed on to you when you buy it.</p><p><br /></p><p>So you bought coins from The Mint.&nbsp; I could go to a bank and buy a £1 coin for £1 - no VAT.&nbsp; You bought a £20 for £20.&nbsp; Not really sure what you point is?&nbsp; That you bought a £20 face coin this about 1/2oz of silver (spot price about £5)?&nbsp; </p><p><br /></p><p>I understand the US model to be far simpler.&nbsp; You buy something, you pay state / city sales tax unless the state doesn&#039;t require it - Delaware / New Hampshire etc.[/QUOTE]</p><p><br /></p>

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