Prices on some silver, platinum, and palladium on our website are displayed under the ‘Margin Scheme’ which means that the prices include VAT.
If you’re buying through a company, we recommend not to buy margin scheme bullion, as you won’t be able to claim the VAT back.
What is the Margin Scheme?
New and second-hand bullion can be sold under this special scheme because they’re classed as ‘collectables’. The scheme is also used for trading second-hand cars and other collectable items.
If a product sold by a VAT registered company is subject to VAT, there’ll always be some included in the price, even if the customer doesn’t see it.
When buying and selling bullion other than gold, VAT normally needs to be charged on the full price quoted by a dealer.
However, the Margin Scheme enables us to sell an item purchased from a private individual at a cheaper overall price. This is because we only have to charge VAT on the difference between the purchase and selling price.
We aren’t allowed to display how much VAT we’ve included for each item and you cannot claim any VAT back from the purchase. This is why this method is not necessarily suitable for company purchases or when using a bonded warehouse for your storage.
Without the Margin Scheme, we’d have to charge for full VAT on the entire selling price for each item.
If you’re stuck or looking for a particular type of coin, or a particular year, please contact one of the team for more information and we’ll be happy to help on 01769 618618, or email sales@bleyer.co.uk.
Updated 29 June 2022
