Gold Monitoring Thread £ GBP only

[Chronos]

UK Left Red-faced As Two British Ships Collide Amid Fight Against Houthis In Red Sea:

https://www.bbc.com/news/uk-68040614

 

Edited January 20 by Chronos

[Bigmarc]

https://inews.co.uk/news/media/greg-dyke-make-licence-fee-free-benefits-wealthy-2863367

 

[MickB]

25 minutes ago, Coverte said:

Is this still the alleged Gold price thread ................ 🤔

Surprised it hasn't been shut down like other threads recently. 

[treetop1280]

6 minutes ago, MickB said:

Surprised it hasn't been shut down like other threads recently. 

Your thread may have been shut down Michael, but it will always be remembered 👍, 

[MickB]

Just now, treetop1280 said:

Your thread may have been shut down Michael, but it will always be remembered 👍, 

Just like Guinness, I'm not bitter

[treetop1280]

Just now, MickB said:

Just like Guinness, I'm not bitter

I am , ( f you James 32) in fact from now on  he is James 26 ) , he will understand why his numbers have changed 😀👍

[JohnA1]

1 hour ago, Coverte said:

Is this still the alleged Gold price thread ................ 🤔

Gold monitoring thread

Currently occupied by gold-related issues (in some form)

Edited January 20 by JohnA1

[James32]

50 minutes ago, treetop1280 said:

I am , ( f you James 32) in fact from now on  he is James 26 ) , he will understand why his numbers have changed 😀👍

Silver members allowed on grown up threads?

[Brit2023]

1 hour ago, Coverte said:

Is this still the alleged Gold price thread ................ 🤔

Keeping an eye out here.

[treetop1280]

8 minutes ago, JohnA1 said:

Gold monitoring thread

Currently occupied by gold-related issues (in some form)

Yes John , gold question for you , if you pass gold on to a relative , and then the relative sends into , say Atkinsons ,  then they put the money in the relatives bank , does that person have to declare it as un- earned income ??? Thanks Ashley 

[Brit2023]

If it’s a gift below £3000 each year then no tax, if over then it becomes a PET ( potentially exempt gift) in which case if you snuff it within 7 years it’s classed as part of your estate….unless rules have changed.

[treetop1280]

10 minutes ago, James32 said:

Silver members allowed on grown up threads?

F off James , Iv actually just asked John a serious question about tax evasion ,  , that’s a point , can we start a tax evasion thread ????? ( sssssch you can hear a pin drop ,  is that a tumble weed I see )??? 😀

[Petra]

25 minutes ago, JohnA1 said:

Gold monitoring thread

Currently occupied by gold-related issues (in some form)

Two ships colliding?🤔🤔

[treetop1280]

My genius plan ????? I try to stash as much gold as I can , then pass it on the kids , , they in turn ,  keep it for a rainy day ,  I thought this  capital gains tax , thing does not apply to gold , especially sovereigns or brittania coins , as they are still classed a currency , 

[JohnA1]

6 minutes ago, treetop1280 said:

My genius plan ????? I try to stash as much gold as I can , then pass it on the kids , , they in turn ,  keep it for a rainy day ,  I thought this  capital gains tax , thing does not apply to gold , especially sovereigns or brittania coins , as they are still classed a currency , 

You do know sovereigns, britannias, silver brits etc are CGT-exempt, right?

[treetop1280]

Just now, JohnA1 said:

You do know sovereigns, britannias, silver brits etc are CGT-exempt, right?

Thanks John , so you can pass them on , as many as you want , and it’s no one’s business???

[JohnA1]

Just now, treetop1280 said:

Thanks John , so you can pass them on , as many as you want , and it’s no one’s business???

Why would you try and make it anyone else's business?

Is it their business?

[Darr3nG]

3 minutes ago, JohnA1 said:

Why would you try and make it anyone else's business?

For likes on TIR  

[treetop1280]

Just now, JohnA1 said:

Why would you try and make it anyone else's business?

Is it their business?

My point , so in years to come ,  my kids  send x amount of  sovereigns to Atkinsons , then x amount goes into there bank account , and all is well , say for talks sake , the revenue snoop into there accounts , and ask where did that x amount come from ,  they don’t have anything to worry about 

[treetop1280]

7 minutes ago, Darr3nG said:

For likes on TIR  

See I ask a serious question for once , and I’m still mocked 😀, can’t all threads just be a nbs thread😀👍

[JohnA1]

9 minutes ago, treetop1280 said:

My point , so in years to come ,  my kids  send x amount of  sovereigns to Atkinsons , then x amount goes into there bank account , and all is well , say for talks sake , the revenue snoop into there accounts , and ask where did that x amount come from ,  they don’t have anything to worry about 

Gold and silver have been legal money since (at least) Roman times.

Unlike promisory notes (currencies, bonds, stocks etc) they are nobody else's liability.

Now why on earth would I want to go and make them someone else's liabilty? Involving corporations like a bullion dealer, the Crown corporation etc means agreeing to their contractual terms. Leave aside the CGT status of selected products, that is decided by some corporate entity and followed by those who choose to engage with them.

Think about it.

It is more about how we (and our children) stand in life. 

[treetop1280]

1 minute ago, JohnA1 said:

Gold and silver have been legal money since (at least) Roman times.

Unlike promisory notes (currencies, bonds, stocks etc) they are nobody else's liability.

Now why on earth would I want to go and make them someone else's liabilty? Involving corporations like a bullion dealer, the Crown corporation etc means agreeing to their contractual terms. Leave aside the CGT status of selected products, that is decided by some corporate entity and followed by those who choose to engage with them.

Think about it.

It is more about how we (and our children) stand in life. 

John I have thought about it , I thought the whole idea of collecting gold , was to pass it in to the next generation ( John I’m thick as f ,   Zero o levels , so give me a pass , on daft question)  I’m a believer in never be afraid to ask a daft question)  so passing it on is the right thing to do , yes or no👍

[JohnA1]

 

5 minutes ago, treetop1280 said:

John I have thought about it , I thought the whole idea of collecting gold , was to pass it in to the next generation ( John I’m thick as f ,   Zero o levels , so give me a pass , on daft question)  I’m a believer in never be afraid to ask a daft question)  so passing it on is the right thing to do , yes or no👍

Your question is reasonable and definately not daft. I am not sure there is such a thing as a daft question anyway (leading question, maybe!)

In my opinion, passing on gold/silver to the next generation is one of the most efficient ways to transfer wealth. (for property I'd look into appropriate trust structures)

In the UK juristiction, coins like Sovereigns, Gold/Silver Britannias and the like have the added advantage of being exempt of capital gains tax. Therefore they are transparent as far as HMRC is concerned. They do not trigger a taxable event like a gold/silver bar would do. Or a non-UK gold coin.

In any case, I would still keep outsiders (corporations or individuals) away from my own private affairs, irrespective of CGT status if it is none of their business.

Others feel differently, however..

[treetop1280]

7 minutes ago, JohnA1 said:

 

Your question is reasonable and definately not daft. I am not sure there is such a thing as a daft question anyway (leading question, maybe!)

In my opinion, passing on gold/silver to the next generation is one of the most efficient ways to transfer wealth. (for property I'd look into appropriate trust structures)

In the UK juristiction, coins like Sovereigns, Gold/Silver Britannias and the like have the added advantage of being exempt of capital gains tax. Therefore they are transparent as far as HMRC is concerned. They do not trigger a taxable event like a gold/silver bar would do. Or a non-UK gold coin.

In any case, I would still keep outsiders (corporations or individuals) away from my own private affairs, irrespective of CGT status if it is none of their business.

Others feel differently, however..

Thanks John , one more question , ( then you can have a well earned brain break 😀) , so foreign coins you would pay capital gains on ??? 

[JohnA1]

5 minutes ago, treetop1280 said:

Thanks John , one more question , ( then you can have a well earned brain break 😀) , so foreign coins you would pay capital gains on ??? 

Foreign coins (Kruggerands etc) - if you cash them into a dealer, then they have to inform HMRC and (theoretically) it has to be treated as a potentially taxable event. The level of any potential Capital Gains Tax would depend on the HMRC terms at the time.

In general, if it has been issued by the Royal Mint and if it has a GBP value printed on it, then it is a CGT-exempt coin.

Others may correct me if there are odd exceptions.

Edited January 20 by JohnA1