RE: Silver help17 Feb 2026 08:32
From Google ..
"Generally, you do not pay the standard 20% VAT on the full purchase price of second-hand (pre-owned) silver Britannias in the UK when bought from dealers using the "Margin Scheme". Instead, VAT is only applied to the dealer's profit margin, not the total value of the silver, resulting in a much lower, often invisible, cost to you.
How it Works: Second-hand silver coins are sold under the VAT Margin Scheme (or Second-Hand Scheme), meaning VAT was already accounted for when first sold.
Cost Savings: Because of this, dealers can offer pre-owned silver Britannias at prices much closer to the spot price compared to new, high-VAT silver.
Capital Gains Tax (CGT): Silver Britannias are also UK legal tender, making them exempt from Capital Gains Tax for UK residents, in addition to being effectively VAT-free.
Dealer Selection: Many major UK bullion dealers (e.g., British Bullion, Atkinsons Bullion & Coins, The Britannia Coin Company) specialize in these pre-owned, Margin Scheme items. "