The United Kingdom maintains an investment gold regime almost identical to the European one and adds an advantage of its own, legal tender coins from The Royal Mint generate no tax on the gain.
When buying
Investment gold is exempt from VAT in the United Kingdom under a definition practically identical to the European one, from which it derives. According to the UK customs guidance (VAT Notice 701/21A), an investment gold coin is one minted after 1800, of purity not below .900, that is or has been legal tender in its country of origin, and whose usual selling price does not exceed the market value of the gold it contains by more than 80%. Coins on the official list are exempt automatically.
Gold bars of purity not below .995 are also exempt. Silver, platinum and palladium pay VAT at the standard rate of 20%.
When selling
Coins minted by The Royal Mint that are legal tender in pounds sterling, such as the Sovereign and the Britannia, in gold as well as in silver and platinum, are exempt from Capital Gains Tax for UK residents, precisely because of their status as legal tender, with no limit on the gain made.
This exemption does not extend to bars or foreign coins, which do generate a gain subject to tax above the annual exempt amount.
Reporting and limits
The United Kingdom has no specific tax reporting threshold for the purchase of precious metals by a private individual. For carrying cash when entering or leaving the country, a declaration is mandatory from 10,000 pounds sterling or its equivalent.
When importing
Since leaving the European customs union, purchases coming from the European Union are treated as imports from a third country.
Imported investment gold, including gold arriving from the European Union, is exempt from VAT as long as it is declared with the correct customs procedure code (CPC 40 00 073). Otherwise VAT is charged even if the metal meets the investment requirements. Gold that is not investment gold, and silver, platinum and palladium, pay VAT at 20% on import, with no customs duty on unwrought bars.
Other zones
- United States ·
/en/inversion/fiscalidad/estados-unidos - European Union ·
/en/inversion/fiscalidad/union-europea - Switzerland ·
/en/inversion/fiscalidad/suiza - Canada ·
/en/inversion/fiscalidad/canada - Australia ·
/en/inversion/fiscalidad/australia - Asia ·
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Consulted on September 27, 2026.
- UK Government, VAT Notice 701/21A, Investment Gold Coins, 2026.
- UK Government, Gold Acquisitions, Imports, Investments and VAT Notice 701/21, 2026.
- UK Government, Take Cash In and Out of the UK, 2026.
- The Royal Mint, Bullion and Capital Gains Tax, 2026.
This is general information, not a tax service. Consult a tax professional in your country. Figures reviewed on September 27, 2026.