GOLD
Information on gold.
Exporting and Importing gold and jewellery
Gold/jewellery should be sent to one of the four assay offices prior to export to identify the carat and quantity of gold being exported, and an assay certificate issued by them. At re-import when the gold has been made into jewellery, documentation from the jewellery manufacturer should be made available evidencing that gold of the same carat and weight has been made into the jewellery being imported
If the re-imported goods consist of anything other than repair, the goods are to be regarded as chargeable goods. The value of the goods for duty is to be reduced to take account of so much of the value as can be attributed to the goods as they stood before being exported.
Note: this is different from Union Customs Codes treatment of outward processing goods.
OP authorisation holders should ensure that the description of the manufactured jewellery is sufficiently detailed to identify the items presented for re-import. Security may need to be taken while processed/replacement goods are assayed.
OP gold authorisation is limited to a maximum of one year.
A mandatory pre-authorisation visit is required before granting an OP gold authorisation.
If the value/volume of goods to be exported at any time exceeds what will be approved in the authorisation by more than 5%, HMRC must be notified of the variation before exporting the goods.
More information on gold can be found at Using outward processing to process or repair your goods