capital gains tax
Capital gains tax is a UK tax that can apply when an asset is sold for a gain after relevant costs, allowances, losses, and exemptions are considered.
Why it matters
For UK physical gold, CGT matters because bars and many non-UK coins are usually discussed as chargeable assets, while sterling legal tender coins such as Sovereigns and Britannias are commonly discussed differently. Good purchase and sale records help show dates, proceeds, costs, and exactly what was sold.
What to check
Annual exempt amounts, tax rates, ownership facts, and HMRC interpretation can change. Check current HMRC guidance before relying on a CGT assumption.