by Mark O’Byrne, Gold Core:
The Best Ways to Invest in Gold Today
– The cost of buying and selling gold
– How to buy gold on the cheap
– How to avoid paying capital gains tax (CGT) on your gold
– Open an account with one of the online bullion dealers – the likes of GoldMoney, GoldCore or Bullion Vault
– Gold Sovereigns and Gold Britannias make for a considerable saving on cost because of the CGT exemption
Dominic Frisby has looked at the best ways to invest in gold in the UK’s best selling financial publication Money Week.
Frisby looks at the various ways to invest in and own gold and points how gold ETFs are not much cheaper than online gold bullion dealers such as GoldMoney, GoldCore or Bullion Vault and yet there is the difficulty of taking delivery which is “cumbersome.”
The other important consideration when investing in gold is to consider the tax implications and the capital gains tax (CGT).
Buyers of gold ETFs and digital gold through e-gold providers like Bullion Vault and GoldMoney are subject to capital gains tax. However buyers of Gold Britannias and Gold Sovereigns are not subject to this expensive tax:
Competition between ETFs and bullion dealers has conspired to drive down prices, much to the benefit of the consumer. But there is one huge cost that neither of these methods is able to avoid – tax. This assumes you’re not buying your gold via an ISA or a SIPP, which it is, for the most part, possible to do via ETF or bullion dealer.