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Our books of guidance are the main reference material for people in the Department. All HM Revenue and Customs� formal procedures and work systems are outlined in these books which give managers and staff the Department’s rules and guidelines and general advice on interpreting them.

»Ê¹ÚÌåÓýapp guidance is aimed at HMRC staff and should not be relied upon by businesses in calculating their taxes and/or duties.

Full guidance on the VAT liabilities of gold can be found in Notices:

• 701/21 Gold, which describes the various liabilities relating to gold, including investment gold, and the relevant accounting requirements and has the force of law in some parts; and
• 701/21A Investment Gold Coins which gives a definition of investment gold coins. Section 3 (listing VAT exempt gold coins) has the force of law.

This guidance includes:

• the background to the exemption for investment gold;
• the special accounting scheme or reverse charge procedure; and
• references to UK and relevant EC law concerning gold.

You will need to read this in conjunction with the Notices.