VAT and CGT FREE
Our experts at Hallmark Investments can assist you on how to gain the best value and avoid taxes. From 1st January 2000, VAT was stopped on gold of a certain purity by Her Majesty’s Revenue and Customs. British legal tender such as gold and silver Britannia coins, are exempt from Capital Gains Tax (CGT) entirely.
Capital Gains Tax
When investing in bullion, an important consideration is the potential VAT implications of your purchase. Currently, investment gold is exempt from VAT, this includes all gold bullion bars and coins purchases in the UK and EU.
It is a common mistake for investors to assume that all precious metals are exempt from VAT due to the VAT free status of investment gold. Each precious metal has its own merits and so individuals should consider the different investment opportunities of each specific metal.
Since the 1st January 2000 there has been no VAT payable on investment gold. This fell in line with the EC Council Directive 98/80 EC, harmonising regulations between the UK and the rest of the EU. Additional information on gold and VAT can be found on the link here.