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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4357
Experience:  FCCA FCMA CGMA ACIS
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My wife wants to bring back fully documented gold bars from

Customer Question

My wife wants to bring back fully documented gold bars from her families home in Ghana by insured couriers, is it liable to any taxation or duty. Thank you.
Submitted: 3 years ago.
Category: Tax
Expert:  bigduckontax replied 3 years ago.
Hello, I'm Keith and happy to help you with your question.
There is no import duty on these items, however VAT at 20% will be charged unless the bullion is in the form of coins conforming to legal tender eg krugerrands when they may be exempt from VAT. I would suggest it adviseable to consult HMRC on this matter before making any importation.
I do hope I have pointed you in the right direction in this matter.