VAT-Free Silver Storage with Sharps Pixley
As a full member of the London Bullion Market Association (LBMA), we offer our clients the opportunity to purchase and store their silver bullion free from Value Added Tax (VAT).
How does it work?
In the UK, VAT is normally payable on all silver investment, even silver bullion. However, as a member of the LBMA, Sharps Pixley is able to offer clients the option to vault their silver and benefit from full VAT relief on that silver, while the metal remains in custody. This is thanks to the Value Added Tax Terminal Markets Order 1973, which sets out an agreement between the LBMA and the HMRC allowing full members of the LBMA to pass on zero-rate VAT to a receiving party, as long as the metal remains within the physical custody of the member.
What are the benefits of vaulting silver with Sharps Pixley?
Vaulting your silver bullion with Sharps Pixley makes your silver investment far more cost efficient, effectively saving you 20%. You can buy as much VAT free silver bullion as you like, with no minimum or maximum values imposed. You also have the freedom to add, sell part of, or all of your holding at any time, and we only charge you one annual storage fee based on the total value of your holding.
Am I able to access my metal?
Your silver will be vaulted in a bonded warehouse in the UK or Zurich (upon agreement with you as the client.) The silver must remain vaulted with us in custody to benefit from VAT relief; it will be fully allocated, insured and individually segregated, meaning there is no counterparty risk. You have full inspection rights over your metal and we encourage our clients to inspect their holdings at any time, without advance notice required. As your silver is allocated to you, specific metal is held in your vault and owned wholly by you. Moreover, client vault holdings are independently audited each year for added piece of mind. If you later choose to take delivery of your silver bars or coins, the VAT will become payable, and will be based on the original purchase price.
What kind of silver bullion can I buy?
We have a wide selection of silver products available for investors to purchase and store. We offer popular British coins struck by the Royal Mint, which due to their status as legal tender are Capital Gains Tax exempt, such as the 1oz Britannia Silver Coin, as well as other coins from collectible series. We also sell larger silver bullion bars including the 15kg Sharps Pixley Silver Bar, and the 1000oz silver market bar.
To find out more about vaulting with us, visit our vaulting page or speak to one of the team about VAT free silver investment at [email protected] or on +44 (0)20 7871 0532.
