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Precious Metals CGT
Precious Metals CGT / Capital Gains Tax for UK Customers
British legal tender coins minted in 1837 or
later years
have unique appeal to the knowledgeable investor- they are exempt from
Capital Gains Tax (CGT)
.
Some of the coins include
Sovereigns, Britannia Silver
and
Gold Coins,
Silver and Gold Queen's Beasts,
British Lunar Coins in Gold and Silver,
Commemorative £500, £200, £10, £5, £2, £1 50p coins and many more.
Extract from HMRC Capital Gains Tax Advice on CurrencyCapital Gain Tax is a tax on the profit when you sell (or ‘dispose of’) something (an ‘asset’) that’s increased in value. It’s the gain you make that’s taxed, not the amount of money you receive.
CG78307
– Foreign currency: coins: legal tender
Coins are to be regarded as currency only if they are legal tender at the time of their acquisition or disposal. Coins which are currency but not sterling, for example Maple Leafs, American Eagles, Krugerrand's, are chargeable assets.
CG78308
– Foreign currency: coins: legal tenderSovereigns minted in 1837 and later years and Britannia gold coins, £5, £2, £1 50p etc are currency but, like all sterling currency,
are exempt
because of
TCGA92/S21 (1)(b).
Further information related to
Capital Gains Tax are available at the following links:
It is the responsibility of the individual investor
and
not that of The London Coin Company Ltd
to declare any Capital Gains Tax
payable.
We advise, that you speak to your financial advisor or accountant in further detail to ensure your personal financial situation in line with the current law.
British legal tender coins minted in 1837 or
later years
have unique appeal to the knowledgeable investor- they are exempt from
Capital Gains Tax (CGT)
.
Some of the coins include
Sovereigns, Britannia Silver
and
Gold Coins,
Silver and Gold Queen's Beasts,
British Lunar Coins in Gold and Silver,
Commemorative £500, £200, £10, £5, £2, £1 50p coins and many more.
Extract from HMRC Capital Gains Tax Advice on Currency
Capital Gain Tax is a tax on the profit when you sell (or ‘dispose of’) something (an ‘asset’) that’s increased in value. It’s the gain you make that’s taxed, not the amount of money you receive.
CG78307
– Foreign currency: coins: legal tender
Coins are to be regarded as currency only if they are legal tender at the time of their acquisition or disposal. Coins which are currency but not sterling, for example Maple Leafs, American Eagles, Krugerrand's, are chargeable assets.
CG78308
– Foreign currency: coins: legal tender
Sovereigns minted in 1837 and later years and Britannia gold coins, £5, £2, £1 50p etc are currency but, like all sterling currency,
are exempt
because of
TCGA92/S21 (1)(b).
Further information related to
Capital Gains Tax are available at the following links:
It is the responsibility of the individual investor
and
not that of The London Coin Company Ltd
to declare any Capital Gains Tax
payable.
We advise, that you speak to your financial advisor or accountant in further detail to ensure your personal financial situation in line with the current law.