Precious Metals CGT / Capital Gains Tax for UK Customers

British legal tender coins minted in 1837 or later years have a 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 that are currency, but not Sterling, for example, Maple Leafs, American Eagles, and Krugerrands, are chargeable assets.

CG78308 – British 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 is available at the following links: 

http://www.hmrc.gov.uk/ manuals/cgmanual/Index.htm

https://www.gov.uk/topic/personal-tax/capital-gains-tax

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 is in line with the current law.