Capital gains tax on gold and silver in the UK
General Capital Gains Tax information :
You save up to 28% of tax on your profits from selling. You can make unlimited tax free profits on investments of any size and value on these British legal currency/tender coins.
By buying these coins eligible for CGT exemption, you avoid paying tax over the profit you make, so you collect the full profit from your trades. The amount of this profit will not even decrease the limit of tax free profit on any other investments!
Capital Gains Tax is the tax on the profit you make when you sell an asset. However, CG Tax is exempt on British legal currency: gold / SILVER Britannias and the gold Sovereigns. This means that you will not have to pay any tax on profits from selling these coins.
When you buy CGT coins worth £ 25.000 and sell them later for £ 30.000, your profit will be £ 5.000.
You will not pay any Capital Gains Tax !
( If the gold you traded were gold bars, you would have to pay up to £ 1.400 of Capital Gains Tax )
For more information on CGT, please go to the HMRC information page on CGT.
This information is not intended to constitute legal or tax advice and should not be relied upon in lieu of consultation with your legal or tax advisor.
Bars and Rounds Int asks all customers to seek tax advice from a registered Chatered Accountant relating to their own personal tax affairs.