Taking Delivery of Gold
Investment gold is VAT free within the UK and EU – making gold attractive to investors in the UK who can take delivery or store investment gold without VAT charges.
Some UK clients prefer personal possession of their bullion and these clients take delivery of their coins and bars. Gold available for delivery in the UK will range from 1oz coins and small bars, up to 1 kg bars (32.15 ozs) and even the large 400 oz good delivery bars that are preferred by central banks and some institutional investors. It is essential to ensure that you have a secure storage location and adequate insurance if taking delivery of your gold.
GoldCore Secure Storage
GoldCore Secure Storage enables UK clients who do not wish to take personal possession of their gold to store it in GoldCore’s secure vaults in the safest jurisdictions in the world. GoldCore utilises the precious metals storage facilities of industry leading suppliers Loomis International and Brinks.
Precious metals held by GoldCore on behalf of GoldCore clients remain the property of the client, we simply act as your custodian under a bailment system.
Clients who wish to visit the vault where their gold is being stored are welcome to do so, by prior arrangement and in the company of a GoldCore representative. Clients who wish to pick-up their gold from where it is being held are free to do so.
It is important to be aware that you do not have to buy bullion from Goldcore to avail of our secure precious metals storage facilities. Existing owners of bullion can simply transfer their bullion from private possession or existing storage in the UK or elsewhere to the ultra safe GoldCore Secure Storage.
Gold for Companies
Companies in the UK can avail of GoldCore’s complete suite of products, whether you want to take delivery of bullion at your company offices, invest through the Perth Mint Certificate Programme, or choose to store your bullion with us at our secure international storage locations in GoldCore Secure Storage.
The application process is simple. Please contact the Bullion Services Team to discuss your options.
Adding Gold to a Self-Administered Pension Plan
In the UK, gold can now be added to a self-directed pension plan such as Small Self-Administered Schemes (SSASs) and Self Invested Pension Plans (SIPPs).
Beginning in the tax year 2006-2007, HM Revenue & Customs (HMRC) amended the taxation of tangible movable property, and allowed “investment grade gold bullion” as an eligible asset that can avail of tax relief in self-directed UK pension schemes. The HMRC definition of investment grade gold bullion is gold that has a fineness (or gold count) of 0.995 or higher in a bar or wafer form, in any of the commonly accepted weights in the bullion markets. This HMRC exemption for investment grade bullion did not extend to gold coins unfortunately.
The weights of gold allowed by HMRC into pension schemes are many and varied and include 400 oz bars, 1kg bars, 1 ounce bars, 10 ounce bars, and 100 ounce bars.
GoldCore is the sole authorised dealer in the EU for the Perth Mint Certificate Programme. Please contact our bullion services team who will take you through the steps required to add gold certificates or allocated gold to your pension plan.