# investing in gold/silver, and tax implications



## paperclip (30 May 2010)

hi, i'm thinking of investing a couple of grand in gold or silver with bullionvault.

if i make any profit, do i have to pay tax on this? and if so... how is this payed? is it a case of me having to declare it?


----------



## george.shaw (1 Jun 2010)

BV is digital gold and you have the attendant website, server, technology and internet risks - see http://www.askaboutmoney.com/showthread.php?t=137753&highlight=gold 

There is CGT on all gold and silver investments except legal tender gold and silver coins - see
INVESTORS SCRAMBLE TO BUY GOLD COINS TO ESCAPE CAPITAL GAINS TAX
http://www.reuters.com/article/idUSLDE64S00A20100529?type=marketsNews
http://www.ft.com/cms/s/0/74825c32-6a93-11df-b282-00144feab49a.html


----------



## george.shaw (1 Jun 2010)

Gas that some claim gold and silver are bubbles and yet few if any people ever show an interest or post with regard to gold. 

This is in marked contrast to the numerous and lengthy property threads that went on before and the numerous and lengthy deposits threads of recent months. 

Strange bubble that does not have public participation.

Seems that dogs poop is more popular than gold on Ask About Money.


----------



## paperclip (2 Jun 2010)

I'm traveling at the moment, so can't buy coins... plus i think your gold is more secure with bv... as long as the whole system doesn't crash... but from what i've been reading about them, they seem pretty air tight.

do you know how much the cgt is? and, if i have an account with bv... and in say, 5 years i sell my gold and make a small profit... i just move the money into my account... how would the revenue know about this? 

i'd be a very small fish in a very big pond.



george.shaw said:


> BV is digital gold and you have the attendant website, server, technology and internet risks - see http://www.askaboutmoney.com/showthread.php?t=137753&highlight=gold
> 
> There is CGT on all gold and silver investments except legal tender gold and silver coins - see
> INVESTORS SCRAMBLE TO BUY GOLD COINS TO ESCAPE CAPITAL GAINS TAX
> ...


----------



## paperclip (2 Jun 2010)

true, from talking to an investor friend, and what i've been reading online, silver sounds like it's really been overlooked.



george.shaw said:


> Gas that some claim gold and silver are bubbles and yet few if any people ever show an interest or post with regard to gold.
> 
> This is in marked contrast to the numerous and lengthy property threads that went on before and the numerous and lengthy deposits threads of recent months.
> 
> ...


----------



## daymoh (4 Jun 2010)

george.shaw said:


> There is CGT on all gold and silver investments except legal tender gold and silver coins - see
> INVESTORS SCRAMBLE TO BUY GOLD COINS TO ESCAPE CAPITAL GAINS TAX
> http://www.reuters.com/article/idUSLDE64S00A20100529?type=marketsNews
> http://www.ft.com/cms/s/0/74825c32-6a93-11df-b282-00144feab49a.html


 
The articles relate to the UK. Do you know what gold coins would be CGT tax free in Ireland?


----------



## joe sod (8 Jul 2013)

*CGT on gold coins*

I just found out that capital gains tax is exempt on gold and silver coins that are legal tender. This I found out from a UK website but this is fine for a UK resident if they own sterling gold or silver coins. However what is the situation in ireland as sterling is not legal tender in ireland. I presume if you own US gold or silver coins then as an irish resident you are still liable for CGT


----------



## tester12 (10 Nov 2013)

*Not so*

I think that any coins that are legal tender in EU aqre exempt see this
link

[broken link removed]


----------



## Robert Moore (13 Nov 2013)

Was looking to buy set of Sovereigns from UK for Xmas. Anyone know if there is VAT or Duty on these when importing? Thanks


----------



## newirishman (13 Nov 2013)

Robert Moore said:


> Was looking to buy set of Sovereigns from UK for Xmas. Anyone know if there is VAT or Duty on these when importing? Thanks



This might help: http://europa.eu/legislation_summaries/taxation/l31012_en.htm


----------



## joe sod (20 Jan 2018)

This probably not the best old thread on gold investing but still interesting, a lot of the queries are the same as with bitcoin now. I know gold investing was all the rage back in 2010/11 but then it goes quite and you never hear how the people got on after. It looks like a good time to buy gold again now though.


----------



## landlord (20 Jan 2018)

I still think silver is incredibly undervalued even more so than gold. 
I stack both gold and silver. 40%gold to 60%silver. 
I use Goldcore in Dublin which is very reputable. 

https://www.goldcore.com/uk/our-pro...-for-secure-vault-storage-lowest-silver-price


----------

