Buy Foreign Gold Coins Online
UK minted coins are classed as legal tender in the UK due to their face value, which means the Treasury can’t tax the movement of legal tender. However, CGT on Foreign coins isn’t necessarily something that will impact your profits. CGT is paid on any profit made when selling an asset in the UK (except for your primary residence and certain exempt assets). However, each person is permitted to make a certain level of profit each year without paying CGT, known as their annual allowance. This currently stands at just over £11,000, which means you’d have to sell quite a few foreign gold coins at once, and the market would have to move up significantly in the time of holding for you to incur ant tax charge at all. For larger investments, the CGT does become more relevant so you may want to consider buying Gold Britannias instead, which are the UK, tax free version of these foreign 1oz coins. For everyone else, diversity is key within the investment world, so there’s certainly a place for these foreign coins in a well-balanced portfolio.