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Posted Tue, 02 Jan 2024 10:14:40 GMT by MR_C
First I am a UK resident, basic rate taxpayer. Suppose I wish to buy, store, and sell a monster box of Silver Britannias (500 oz), face value £2, with a USA based bullion dealer, does this mean they will lose their CGT exempt status when I transfer the proceeds of the sale back to the UK? They have storage options in the USA, Canada, Singapore, and I am wondering if there are any tax implications in these countries too. (Just wanted to know before making an investment)
Posted Wed, 10 Jan 2024 10:41:25 GMT by HMRC Admin 32 Response
Hi,

Coins produced by the Royal Mint, which qualify as legal tender, are not subject to CGT as the Treasury cannot tax the movement of legal currency.

This covers Gold Sovereigns, Gold Britannias, Silver Britannias and some other limited-issue Royal Mint coins.

There is no upper limit either. It doesnt matter where they are stored.

Thank you.

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