Do I pay VAT on gold bullion coins or bars?

In the UK and European Union, investment gold is exempt from VAT, so you do not pay VAT when purchasing qualifying gold bullion coins or bars.

To qualify as investment gold, a gold bar generally needs to have a purity of at least 995 parts per thousand, while qualifying gold coins must meet specific criteria relating to their purity, weight, market value and status as legal tender. The Royal Mint’s qualifying investment gold products are VAT exempt.

Other gold products may be subject to VAT, so if you are unsure whether a particular product qualifies for the investment gold exemption, please check the product details before purchasing.