Capital Gains Tax or CGT is a tax on the gain or profit you make when you sell, give away or otherwise dispose of something. It applies to assets that you own, such as bullion, shares or property, which are worth £12,000 or more in value.
There is a tax-free allowance and some additional reliefs that may reduce your Capital Gains Tax bill. Most bullion investors will never have to pay this tax due to the size and value of their investment, but it is important that investors know where they stand.
Capital Gains Tax is only payable if an investor realises over £12,000 of profit in one financial year. Be mindful that the £12,000 limit is not the total value of selling your bullion but the profit made from your original outlay.