15 Jul 2024
HMRC has recently updated VAT Notice 701/21A entitled 'Investment gold coins'. The notice cancels and replaces the previous version. The UK list of coins recognised as investment gold coins has also been updated.
The notice explains that an investment gold coin is exempt from VAT and provides a list of investment gold coins whose supply is exempt from VAT. There have been a number of changes to the UK list of coins recognised as investment gold coins from that published in previous versions of the notice.
An investment gold coin is defined as:
A coin not on the lists of investment gold coins (by country) can still be exempt from VAT if it falls within the description laid out in the first bullet point above. However, you must be able to show from your business records that any such coin meets the criteria.