Re:In our cashless society, we need to take digital jail ser...
by simonjgreen on Wednesday February 23, 2022 @06:37AM
(#30440026)
The "trick" in the UK here is to use gold coins, as they are a currency. There's a plethora of places that will bulk sell you gold coins to use as a store of wealth.
Re:In our cashless society, we need to take digital jail ser...
by Reason077 on Wednesday February 23, 2022 @10:00AM
(#30441710)
All investment gold is exempt from VAT in the UK, including gold bars etc. However, legal tender gold coins, minted by the Royal Mint, may have additional advantages as they are also exempt from other taxes such as capital gains tax.
This is good advice, always have some cash around; in these uncertain times, I'd even argue to increase the amount. Make sure to have a record somewhere that you have it (a photo on your phone with e.g. ID and a dated newspaper? I dunno) so that IF you get your home broken into, you can prove it to your insurance.
Of course, there's plenty of places to hide a stack of bills, or distribute it across multiple spots.
If you're concerned about the downfall of the economy, you can get 'slabs' of valuable metals as well, that can be broken off into smaller denominations. The downside of going for those (at least in NL) is that you can't really use them to bet on the price of gold going up or down, because as a consumer you have to pay VAT for them (21%).