Do you pay tax when you sell gold in the UK?

This is general information, not tax advice. Rules change — check with HMRC or an accountant for your situation.

Sovereigns and Britannias: usually tax-free

UK gold coins that are legal tender, such as sovereigns and Britannias, are exempt from Capital Gains Tax (CGT) for UK residents.

Gold bars and foreign coins

Gains on bars and non-UK coins (such as Krugerrands) can be subject to CGT. You only pay on gains above your annual tax-free allowance, across all your assets.

Jewellery and personal items

Jewellery counts as a “chattel”. Items sold for £6,000 or less are generally exempt from CGT. Sets sold together may be treated as one item.

VAT

Investment gold — bars of at least 99.5% purity and qualifying coins — is free of VAT in the UK. Silver, platinum and palladium bullion are charged VAT when you buy them.