Tax Free Gold

Tax Free Gold bullion is available in the form of gold Sovereigns and gold Britannias which are free of Capital Gains Tax (CGT) in the UK, provided that they are considergold sovereignsed legal tender. Currently, this applies to gold Britannia coins and gold sovereigns dated 1837 or later. GoldMadeSimple do not offer tax or accountancy advice, so before making any decision relating to your tax affairs, you should seek the advice of a qualified accountant, Independent Financial Advisor (IFA) or tax planner.


Gold Sovereigns vs ETFs

There is a growing trend in our clients deciding to transfer some funds from Exchange Traded Funds (ETFs) into gold sovereigns and gold britannias, in order to take advantage of the capital gains tax free status of these specific types of bullion coins. Although coins generally trade at a higher margin than gold bars, some clients consider the tax benefits of sovereigns and brittannias outweigh this extra margin cost in the long term, especially if they believe that gold will continue to show the significant price increases that have been experienced over the last 10 years.

In the past, customers may have experienced difficulties in sourcing and storing large quantities of sovereigns and britannias and so GoldMadeSimple has established a comprehensive network of wholesale suppliers, including the Royal Mint, so that clients now have easy access to large quantities at low rates, with options for delivery or secure storage and insurance in Via Mat International vaults in London and worldwide (including Germany, Switzerland, USA, Hong Kong).  


Discounts for Sovereigns and Britannias

We offer discounted prices for large volume orders of gold sovereigns and gold britannias. Our buy gold page displays discounts for packs of 10 coins and we are able to offer further discounts through our bespoke services team, for orders of £ 100,000 or more.


Tax Free Gold HMRC Wording

The relevant extracts from the HM Revenue and Customs (HMRC) website are:-

http://www.hmrc.gov.uk/manuals/cgmanual/cg78308.htm and http://www.hmrc.gov.uk/manuals/cgmanual/CG12602.htm


 

CG78308 - Foreign currency: coins: legal tender

Sovereigns minted in 1837 and later years and Britannia gold coins are currency but, like all sterling currency, are exempt because of TCGA92/S21 (1)(b).


Buying physical gold is not regulated by the Financial Services Authority (FSA). For the benefit of doubt, we are not Financial Advisors or fund managers nor do we give financial advice. The information contained on this website is for "informational purposes" only, and does not replace professional, regulated advice. We encourage you to do your own research before buying gold or silver, and to seek out professional advice from an Independent Financial Adviser (IFA) if you are unsure.