§ Mr. Shersbyasked the Chancellor of the Exchequer why certain foreign gold coins such as the South African Kruger-rand, the American Double Eagle, the French 20 franc, the Swiss 20 franc and the Germon 20 mark are not subject to 25 per cent. VAT, whereas others such as the Austrian 100 corona and the Mexican 50 peso are subject to 25 per cent. VAT.
§ Mr. Robert Sheldon,pursuant to his reply [Official Report, 3rd February 1976; Vol. 904, c. 532], gave the following information:
Coins which are legal tender, either in this country or abroad, are exempt from VAT. Replicas of such coins which are 718W jewellery, goldsmiths' or silversmiths' wares or similar goods are chargeable at the 25th per cent. rate of VAT.
§ Mr. Shersbyasked the Chancellor of the Exchequer (1) why gold sovereigns dated 1837 or earlier are subject to 25 per cent. VAT whereas those dated 1838 or later are not subject to VAT;
(2) why gold half sovereigns minted in 1837 or earlier are not subject to 25 per cent. VAT whereas gold sovereigns minted in 1837 or earlier are subject to 25 per cent. VAT.
§ Mr. Robert Sheldon,pursuant to his replies [Official Report, 3rd February 1976; Vol. 904], gave the following ing information:
Coins which are legal tender, either in this country or abroad, are exempt from VAT. Gold sovereigns and half sovereigns minted before 1838 are no longer legal tender and are subject to VAT at 8 per cent.