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21C Bullion
21C Bullion
Posts : 15
Join date : 2023-01-11
Location : West Midlands
https://www.youtube.com/@21CMoney

Capital Gain's Tax reducing to £6,000 in April 2023 and then £3,000 in April 2024 Empty Capital Gain's Tax reducing to £6,000 in April 2023 and then £3,000 in April 2024

Thu Jan 12, 2023 11:21 am
You know with Capital Gain's Tax reducing to £6,000 in April 2023 and then £3,000 in April 2024, a lot of us precious metal collectors will be forced to buy more Royal Mint coins to avoid CGT problems.

As most of you guys know, the quality control at The Royal Mint isn't the best, so how will you be handling the CGT changes?

I never had to worry about the £12,300 limit, but with gains in stocks & shares and price of precious metals looking positive, I think most of us will hit the £3,000 mark from 2024 onwards.

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Admin
Admin
Admin
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Join date : 2021-05-08
Location : England UK
https://www.thepreciousmetalforum.com

Capital Gain's Tax reducing to £6,000 in April 2023 and then £3,000 in April 2024 Empty Re: Capital Gain's Tax reducing to £6,000 in April 2023 and then £3,000 in April 2024

Thu Jan 12, 2023 1:21 pm
Yep, I seen the news, Bad thing for myself who has most of my bullion physically vaulted and has to pay not only the upkeep / insurance, but to declare CGT on a yearly basis. Yikes... I am not looking forward to a larger bill.

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Rod Panhard
Rod Panhard
Posts : 147
Join date : 2021-05-25

Capital Gain's Tax reducing to £6,000 in April 2023 and then £3,000 in April 2024 Empty Re: Capital Gain's Tax reducing to £6,000 in April 2023 and then £3,000 in April 2024

Thu Jan 12, 2023 6:10 pm
Possibility that could only be a dozen ounces of silver or one ounce of gold come April 2024.  You also have to wonder if this is due to the control structure knowing there is going to be flight out of the paper and crypto markets and they are about to lose their grip on the metals so have changed the rules to give themselves an earner. Are the UK coins still exempt?

denby and 21C Bullion like this post

21C Bullion
21C Bullion
Posts : 15
Join date : 2023-01-11
Location : West Midlands
https://www.youtube.com/@21CMoney

Capital Gain's Tax reducing to £6,000 in April 2023 and then £3,000 in April 2024 Empty Re: Capital Gain's Tax reducing to £6,000 in April 2023 and then £3,000 in April 2024

Mon Jan 16, 2023 10:57 pm
Rod Panhard wrote:Are the UK coins still exempt?

Yes, Royal Mint coins are exempt due to their status as legal British currency:

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

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Capital Gain's Tax reducing to £6,000 in April 2023 and then £3,000 in April 2024 Empty Re: Capital Gain's Tax reducing to £6,000 in April 2023 and then £3,000 in April 2024

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