Tax implications of investing in precious metals

Messiah9

Hello,

I'm planning to make some investments in precious metals such as Gold, and Silver using Bullion Vault. The payment will be made as a deposit from my bank account in UK.

Are there any tax implications I need to be aware of?

I plan to make these as long term investments (more than 5 years at least). As far as I'm aware, there should be no tax implications unless I sell these assets.

Also, do these type of investments have to be declared in the self-assessment forms?

Thanks.

Jeremy535897

Gold and silver bullion is chargeable to capital gains tax. British legal tender is exempt. See:

https://www.royalmint.com/gold-price/capital-gains-tax-on-investments/

If you don't sell any bullion in a tax year, there is nothing to put on the self assessment tax return. If the disposal value of all chargeable assets in a tax year is £49,200 or less, and the gains are £12,300 or less, there is no need to put anything on the capital gains section of the self assessment tax return.

Albermarle

I'm planning to make some investments in precious metals such as Gold, and Silver using Bullion Vault.

Have you considered holding investment vehicles that follow the price of gold , silver and other precious metals, instead of holding them physically ? 
If you are buying them to protect yourself against some kind of future Armageddon, then perhaps keeping them under the bed /in a safe will make you feel better.
However if you are buying them as part of a balanced investment portfolio , it is a lot easier not to actually buy the physical metal and store it, unsure it  etc .

kinger101

^^^
This also allows you to invest within an ISA/Pension, or even dodge CGT by selling say an ishares ETF and buying Invesco ETF everytime the gain nears the CGT limit.  A better idea that the one of buying legal tender suggested on BullionbyPost.