How to invest in gold and pay no capital gains tax in the UK


By Adam Williams
The Telegraph, London
Sunday, June 2, 2019

In turbulent times, investors traditionally turn to gold. Its appeal is a lack of correlation between its price and those of other assets. But gold is often held for decades, often leading to a hefty tax bill when the owner comes to sell.

Yet a loophole exists that allows gold investors to dodge capital gains tax altogether. The tax is not applied to any British legal currency, which means that gold sovereigns, gold Britannia coins and silver Britannia coins are exempt, regardless of how much they increase in value.

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Those who invest in gold bars, by contrast, are liable to pay tax on their profit, potentially costing them thousands of pounds. While the initial purchase price of sovereigns is slightly higher, the tax break means long-term savings can be considerable.

Rob Halliday-Stein of BullionByPost, a gold dealer, said: "For wealthy individuals looking to realise large profits from their investment, sovereigns represent the best value."

The price of gold bars and sovereigns is broadly the same, at between L1,050 and L1,070 an ounce, although it fluctuates over time. Older gold coins are typically sold at a premium as they have historical value in addition to the cost of the precious metal itself.

This premium can grow significantly over time if a coin becomes scarce.

Mr. Halliday-Stein added: "Gold bullion coins have commanded large premiums in the past, depending on market factors at the time. In the 1960s there was a premium of up to 40 percent on gold sovereigns."

The Royal Mint is currently selling a rare 200-year-old George III gold sovereign for L100,000. It was minted in 1819 and there are thought to be just 10 left in the world. ...

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