Silver: VAT

Treasury written question – answered on 24th June 2020.

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Photo of Richard Holden Richard Holden Conservative, North West Durham

To ask the Chancellor of the Exchequer, how much revenue is raised annually for the public purse from VAT on sales of silver bullion (a) coins and (b) bars.

Photo of Jesse Norman Jesse Norman The Financial Secretary to the Treasury

HM Revenue and Customs do not hold data on VAT collected specifically from the sale of silver bullion, as information on supplies of specific commodities is not required on VAT returns.

HMRC record and publish annually details of VAT receipts across trade sectors and subsectors, but not of specific commodities.

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