Tax on gold in the UK: VAT and Capital Gains Tax calculator
Investment gold is VAT free in the UK, while silver, platinum and palladium carry 20% VAT. Sovereigns and Britannias are free of Capital Gains Tax; other bullion is taxed on the gain above your £3,000 annual allowance. The calculator shows both for individuals, with HMRC sources.
Gold and silver tax calculator
Enter what you bought and, if you like, what you sell it for. You get the VAT or GST in the price and an estimate of the tax on the sale.
UK rules for individuals
When you buy
- Investment gold: no VAT. Bars of at least 995 fineness and gold coins of at least 900 fineness (minted after 1800, legal tender, sold for up to 180% of the gold value), VAT Notice 701/21.
- Silver, platinum and palladium: 20% VAT in the dealer price.
When you sell
- Sovereigns and Britannias: no CGT. They are sterling currency (HMRC CG78305).
- Other coins and bars: the gain is chargeable. The first £3,000 of all your gains in a tax year is tax free; the rest is taxed at 18% or 24%.
- Chattels rule: foreign coins sold for £6,000 or less are exempt. For bars HMRC gives no direct guidance.
- For individuals, not for people trading in metal as a business.
Official sources: HMRC VAT Notice 701/21 · Capital Gains Tax rates (GOV.UK) · CGT allowances (GOV.UK) · HMRC Capital Gains Manual CG78305 · HMRC Capital Gains Manual CG76870. Rules checked on 12 Oct 2026.
FAQ
Do you pay Capital Gains Tax on gold in the UK?
Not on Sovereigns and Britannias, which are legal tender sterling coins. Gains on other gold coins and bars are chargeable above the £3,000 annual exempt amount, at 18% or 24%.
Is there VAT on gold in the UK?
No VAT on investment gold: bars of at least 995 fineness and gold coins of at least 900 fineness that are legal tender. Jewellery and scrap gold carry 20% VAT.
Is there VAT on silver in the UK?
Yes, 20%. Silver bullion bars and coins, including silver Britannias, have no VAT exemption.
Are Krugerrands free of Capital Gains Tax?
No. Krugerrands are not sterling currency, so a gain is chargeable. A Krugerrand sold for £6,000 or less is exempt under the chattels rule.
What is the CGT allowance for 2026-27?
The annual exempt amount is £3,000 for individuals. Gains above it are taxed at 18% within the basic rate band and 24% above it.
metalsradar.com compares precious metals prices and does not sell metal. This page explains the general rules for private individuals and is not tax advice. Your tax depends on your whole situation, so check it with a tax adviser or the tax office before you buy or sell.