What are your options when looking for a British Tax Free Investment?
With the Labour Government's budget set to be announced on 30th October 2024, there is speculation about significant changes to the Capital Gains Tax (CGT) allowance. In the coming weeks, as we await the final details, it’s crucial to understand what CGT-exempt investments are and how you can benefit from them. In simple terms, British gold is entirely exempt from Capital Gains Tax due to its legal tender status.
This means the government cannot tax the profits you make from it as British Gold is Legal tender. Legal tender applies to any currency that a government officially recognises as valid for paying debts and making purchases i.e. In simple terms, it means that if you owe someone money, they have to accept it as payment, unless both of you agree to use something else. In the content of Gold coins, their status means that they are effectively recognised as currency. By investing in British Gold Coins
such as the Gold Sovereigns and Gold Britannia you eliminate the risk of any tax charges on the gains from your investment when you decide to sell your bullion. Gold Britannias
Gold Sovereigns
CGT Free Gold
As a new investor interested in CGT-exempt British gold, you'll want to focus on options like Gold Sovereigns or Gold Britannias.
What are the benefits of this? You get to keep the full return and profit from your investment if you sell at a profit. This makes your investment tax-efficient, as you won’t be paying taxes on your profits as income tax.
You've finished reading this article, what are your options now?
The importance of choosing the right bullion dealer to buy and sell through is solely down to you and understandably a serious discission, However here at Hatton Garden Metals Hatton Garden Metals we are a reputable bullion dealer who prides itself on transparency. You can also book a consultaion call with one of our experts here.