{"id":2819,"date":"2022-06-16T14:43:42","date_gmt":"2022-06-16T13:43:42","guid":{"rendered":"https:\/\/www.ukbullion.com\/blog\/?p=2819"},"modified":"2022-06-16T16:53:15","modified_gmt":"2022-06-16T15:53:15","slug":"top-7-questions-about-capital-gains-tax","status":"publish","type":"post","link":"https:\/\/www.ukbullion.com\/blog\/top-7-questions-about-capital-gains-tax\/","title":{"rendered":"Top 7 Questions About Capital Gains Tax"},"content":{"rendered":"<p><a href=\"\/blog\/buying-gold-in-times-of-crisis-and-the-power-of-blockchain\/\">In this time of high inflation<\/a>, investors are keen to maximise their returns. One way this can be achieved is by investing in gold coins which are exempt from tax. In this article, we will explore how you can buy Capital Gains Tax-free (CGT-free) gold.<\/p>\n<h2>1. What is Capital Gains Tax?<\/h2>\n<p>CGT is levied on the profits or \u2018gains\u2019 made from the disposal (sale) of some assets. Tax is only paid on the increase in value (profit) compared to the purchase price, rather than the amount of money that you receive from the sale.<\/p>\n<p>The tax applies to several forms of investment and in fact most assets worth more than \u00a36,000 can be taxed.<\/p>\n<p>The following rates apply:<\/p>\n<ul>\n<li>Individuals \u2013 10% to 20% (depending on tax brackets)<\/li>\n<li>Trusts \u2013 20% for trustees<\/li>\n<li>Companies \u2013 20%<\/li>\n<li>Entrepreneurs \u2013 pay 10% with Entrepreneurs Relief<\/li>\n<\/ul>\n<h2>2. Are there any exemptions to CGT?<\/h2>\n<p>Exemptions include motor vehicles and some forms of precious metals, including gold and silver CGT-free coins.<\/p>\n<p>You will not pay CGT on:<\/p>\n<ul>\n<li>ISAs and PEPs<\/li>\n<li>UK Government gifts and Premium Bonds<\/li>\n<li>Betting and lottery winnings<\/li>\n<li>UK gold coins<\/li>\n<\/ul>\n<p>You do not have to pay the tax in the following situations:<\/p>\n<ul>\n<li>When gifting to a spouse or partner<\/li>\n<li>When making a gift to a charity<\/li>\n<li>When someone dies<\/li>\n<\/ul>\n<h2>3. What is the CGT limit?<\/h2>\n<p>The threshold for CGT changes from time to time. The current limit of \u00a312,300 in the tax year 2022\/2023 for individuals and \u00a36,150 for trusts, is set in place until 2026. Beyond this date, we advise investors to check for the current limit on the <a href=\"https:\/\/www.gov.uk\/government\/publications\/rates-and-allowances-capital-gains-tax\/capital-gains-tax-rates-and-annual-tax-free-allowances#tax-free-allowances-for-capital-gains-tax\" target=\"_blank\" rel=\"noopener\">gov.uk website<\/a> where you can also see the limit of previous tax years.<\/p>\n<p>Depending on the asset you can reduce your tax bill by <a href=\"https:\/\/www.gov.uk\/government\/publications\/rates-and-allowances-capital-gains-tax\/capital-gains-tax-rates-and-annual-tax-free-allowances#tax-free-allowances-for-capital-gains-tax\" target=\"_blank\" rel=\"noopener\">deducting losses<\/a> or claiming reliefs.<\/p>\n<h2>4. How can I buy tax-free gold?<\/h2>\n<p>British gold coins are CGT-free. The reason for this is British coins produced by The Royal Mint have legal tender status, which means technically investment coins can be used in shops. However, they have a nominal value below the value of their gold or other precious metal content, so you wouldn\u2019t want to use them on the high street!<\/p>\n<p>The Royal Mint produces a series of gold coins favoured by both new and experienced investors. When you buy CGT-free coins, you will not have to pay CGT on the profits you make when selling them.<\/p>\n<p>We stock a range of coins produced by the Royal Mint from Gold Sovereign coins to Gold Britannias. Why not consider the <a href=\"\/gold\/capital-gains-tax-free-gold-coins\/2022-the-royal-mint-full-sovereign-gold-coin.html\">2022 Gold Full Sovereign<\/a> or <a href=\"\/gold\/capital-gains-tax-free-gold-coins\/royal-mint-british-1-ounce-gold-britannia-coin-24ct-1974.html\">2022 1oz Gold Britannia?<\/a>\u00a0We wrote recently how <a href=\"\/blog\/celebrate-queen-elizabeth-iis-platinum-jubilee-with-a-commemorative-2022-sovereign\/\">these coins are ideal to mark Queen Elizabeth II\u2019s Platinum Jubilee<\/a>.<\/p>\n<p>Other popular gold coins by the Royal Mint include the Queen\u2019s Beast series and we have a variety of other coin sets in stock.<\/p>\n<p>We also stock <a href=\"\/gold\/vat-free-gold-bullion.html\">VAT-free gold bullion and coins.<\/a><\/p>\n<h2>5. Can I buy tax-free silver products?<\/h2>\n<p>Silver products are also attractive to investors as this precious metal has been known to outperform gold in certain scenarios.<\/p>\n<p>Silver buyers will be pleased to learn that although silver products attract VAT, they can also be CGT-free. Silver Britannia coins can be purchased as a Capital Gains Tax-Free purchase. Explore our selection of <a href=\"\/silver\/cgt-free-silver-coins.html\">CGT-free silver coins<\/a>. We also offer a selection of VAT-free silver items.<\/p>\n<p>Plus, <a href=\"\/platinum.html\">Platinum Britannia coins<\/a> can be purchased without having to worry about CGT limiting your ability to make a profit.<\/p>\n<h2>6. How can I avoid CGT when selling gold?<\/h2>\n<p>The most obvious strategy used by investors is to purchase products exempt from CGT.<\/p>\n<p>Also, because gold coins are small units, they are a flexible investment option. If for instance, you have sold a number of bullion items which takes you close to the CGT limit, you could choose to dispose of some of your collection of coins without reaching your tax-free allowance and still make a profit.<\/p>\n<p>Talk to your accountant to determine a strategy to limit your tax bill. We do not claim to be tax specialists or offer investment advice. This article is purely for informational purposes and should not be considered advice.<\/p>\n<h2>7. The benefits of investing in gold coins<\/h2>\n<p>Gold coins are constantly in high demand, which means when you want to dispose of them it should be relatively simple.<\/p>\n<p>You may get a higher return on gold coins compared to bullion, as gold coins are collectible, featuring unique designs throughout different editions.<\/p>\n<p>British gold coins are verified and authenticated by The Royal Mint, which means there is no chance that you will receive counterfeit coins when bought from UKBullion as we are an Official Partner to The Royal Mint.<\/p>\n<p>Coins also offer a flexible investment. As small units they are easy to store outside the banking system. Moreover, they offer better flexibility at resale than gold bars, for instance you might choose to resell part of your investment to release cash when it is required, or you could choose to part-sell some of your investment to generate a maximum return on investment.<\/p>\n<p>Finally, having gold coins in your investment portfolio allows you to easily rebalance it whenever you want. This is because gold coins can be stored outside the banking system, are in high demand and they come in a range of sizes (1\/10oz, \u00bcoz, 1\/2oz, 1oz) meaning you can sell exactly the amount of gold you require.<\/p>\n<h2>Buy Capital Gains Tax-Free coins today<\/h2>\n<p>Capital Gains Tax-Free coins are available to purchase today for investors that wish to diversify their portfolio, first time investors and those looking to buy gifts for loved ones.<\/p>\n<p>Should you have any queries about buying tax-free gold, we\u2019re happy to <a href=\"\/contact-us\">answer any questions you might have<\/a>. Our head office is open Monday-Thursday 9am-5pm, and Friday 9am-4pm.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this time of high inflation, investors are keen to maximise their returns. One way this can be achieved is by investing in gold coins which are exempt from tax. In this article, we will explore how you can buy Capital Gains Tax-free (CGT-free) gold. 1. What is Capital Gains Tax? CGT is levied on the profits or \u2018gains\u2019 made from the disposal (sale) of some assets. Tax is only paid on the increase in value (profit) compared to the purchase price, rather than the amount of money that you receive from the sale. The tax applies to several forms of investment and in fact most assets worth more than \u00a36,000 can be taxed. The following rates apply: Individuals \u2013 10% to 20% (depending on tax brackets) Trusts \u2013 20% for trustees Companies \u2013 20% Entrepreneurs \u2013 pay 10% with..<\/p>\n","protected":false},"author":1,"featured_media":2821,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[273],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Top 7 Questions About Capital Gains Tax - UKBullion Blog<\/title>\n<meta name=\"description\" content=\"Keep more of your investment profits with Capital Gains Tax-free (CGT) gold. 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