CGT and Gold Bullion

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Is the increase in CGT going to affect someone who buys bullion (from bullionvault.com)? Or is this not affected?


edit - Let me be clearer - is any profit I make from the rising price of gold going to be subject to GCT, or is there an allowance? And is that allowance going to be carried over in the next budget (or do I have to wait and see? )

wombat42_2

does nobody know ?

tradetime

With the exception of certain coins, Gold Sovereigns etc which have an exemption to CGT, all other forms of gold bullion are subject to CGT and as such if there is a change (hike) in the rate of CGT then you will pay more on the profit you make from the disposal of gold bullion you hold.

lvader

The 10K allowance will most likely stay. That is a lot of gold you can sell each year without having to pay any tax.

sabretoothtigger

I think if they are sensible they'll roll over the allowance for every year of ownership.
Years ago when we last had the tories this is how I remember it being worked out, you had to do pretty well to pay it then I think



I registered with that site years ago but I forgot my details. I just remembered and logged back and they said they gave me a gram of gold which is what they said last time, thats why I signed up.

Anyhow a gram might even be worth something now ? I think the catch is the charges for withdrawal otherwise it might be very useful for whenever I thought the pound was about to drop - its a bit late now I would guess


Dollar gold since 1979, one this size in sterling would be good

http://img441.imageshack.us/img441/2676/gold1005289560687.gif

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Thanks All!

bendix

Bullion is subject to CGT, yes. The only form of gold which is exempt are UK gold coins such as sovereign because they are - officially - legal currency.