Bookkeeping for gold and jewellery traders
Gold and jewellery businesses deal in high values, fast-moving prices and special VAT rules. We keep your stock, sales and VAT records accurate every month, including the reverse charge on precious metals and stones between registered businesses.
Common challenges we fix
- Stock tracked by weight and purity as well as value
- Reverse charge VAT on purchases and sales between registered traders
- Making charges and metal value shown separately on invoices
- High cash volumes and AML record keeping
What we handle for you
- Stock records by item, weight and purity
- VAT reverse charge applied correctly on qualifying B2B supplies
- Separate treatment of metal value and making charges
- Daily sales and cash reconciliations
- Records that support your AML reporting obligations
- Monthly margin reports by product line
Frequently asked questions
How does VAT work when we sell gold to another registered trader?
Since 2025, supplies of gold, silver, platinum, palladium, diamonds, pearls and certain precious stones between VAT-registered businesses generally fall under the reverse charge. The buyer accounts for the VAT in its own return instead of the seller charging it. Sales to consumers are charged VAT in the normal way.
Do jewellers have AML obligations?
Yes. Dealers in precious metals and stones must register on goAML and report cash transactions of AED 55,000 or more, among other obligations. We keep the transaction records that support your compliance team.
Guides for UAE businesses
Bookkeeping for Small Business in UAE: Step-by-Step Guide
Eight simple steps to set up and keep bookkeeping for a UAE small business, with basic examples and the UAE-specific rules you need.
Read the guide →VAT Registration Threshold UAE: Who Must Register?
AED 375,000 mandatory, AED 187,500 voluntary: how the UAE VAT threshold works, how to calculate it and when you must apply.
Read the guide →Corporate Tax Registration Deadline UAE (Including New Companies)
New companies have three months to register for Corporate Tax. Here's how the deadline works, the AED 10,000 penalty and the waiver.
Read the guide →Get your books in order this month
Tell us about your business and get a fixed monthly quote within one business day.