VAT on Gold in the UK
Investment gold bars and coins are sold free of VAT. Gold jewellery carries 20% VAT on the full price. Today 10 grams of 24K gold cost £931.17 at the world price, with no tax on investment bars and coins.
Rules checked 26 October 2026 · Prices Oct 30, 2026, 21:55 UTC · Not tax advice
Gold in the UK today, with tax
GBP · Oct 30, 2026, 21:55 UTC| Weight | World price, 24K gold | Bar or coin, with tax and duty | 18K jewellery metal, with tax |
|---|---|---|---|
| 1 gram | £93.12 | £93.12 | £83.81 |
| 10 grams | £931.17 | £931.17 | £838.05 |
| 1 ounce | £2,896 | £2,896 | £2,607 |
| 100 grams | £9,312 | £9,312 | £8,381 |
| 1 kilo | £93,117 | £93,117 | £83,805 |
The rules in the UK
| What you buy | Tax | Details |
|---|---|---|
| Bars and bullion coins | 0% | Investment gold bars and coins are sold free of VAT. Bars of at least 995 fineness in weights accepted by bullion markets; coins of at least 900 fineness, minted after 1800, legal tender (now or formerly) in the country of origin and normally sold for no more than 180% of their gold value. Sovereigns and Britannias also count as sterling, so they are free of Capital Gains Tax. |
| Jewellery | 20% | Gold jewellery carries 20% VAT on the full price. Charged on: full value. |
| Import duty | 0% | No import duty is built into local prices; London is the centre of the world gold market. |
| Tourist refund | No | Great Britain ended VAT-free shopping for tourists on 1 January 2021. Visitors get VAT relief only if the shop ships the goods directly abroad. In September 2026 the Conservative opposition pledged to bring tax-free shopping back, but it is not government policy. Northern Ireland has a separate retail export scheme for non-EU residents. |
Compared with nearby countries
| Country | Bars and coins | Jewellery | Import duty |
|---|---|---|---|
| UK | 0% | 20% | none |
| Ireland | 0% | 23% | none |
| Germany | 0% | 19% | none |
| France | 0% | 20% | none |
| Italy | 0% | 22% | none |
| Netherlands | 0% | 21% | none |
| Poland | 0% | 23% | none |
| Switzerland | 0% | 8.1% | none |
| Turkey | 0% | 0% on the gold | none |
VAT on Gold in the UK: FAQ
Is there VAT on gold in the UK?
Investment gold bars and coins are sold free of VAT. Gold jewellery carries 20% VAT on the full price.
Do you pay VAT on gold bars and coins in the UK?
Investment gold bars and coins are sold free of VAT. Bars of at least 995 fineness in weights accepted by bullion markets; coins of at least 900 fineness, minted after 1800, legal tender (now or formerly) in the country of origin and normally sold for no more than 180% of their gold value. Sovereigns and Britannias also count as sterling, so they are free of Capital Gains Tax.
Is there import duty on gold in the UK?
No import duty is built into local prices; London is the centre of the world gold market.
Can tourists claim back the VAT on gold in the UK?
No. Great Britain ended VAT-free shopping for tourists on 1 January 2021. Visitors get VAT relief only if the shop ships the goods directly abroad. In September 2026 the Conservative opposition pledged to bring tax-free shopping back, but it is not government policy. Northern Ireland has a separate retail export scheme for non-EU residents.
Sources (2)
Related
General information on the tax a private buyer pays, checked 26 October 2026. Rules change; check with the seller, the tax authority or an adviser. Not tax advice.