Following last October’s budget, demand for tax-free gold has surged as investors respond to tighter Capital Gains Tax rules.
According to Solomon Global, a company specialising in the secure delivery of physical gold bars and coins for private ownership, inbound inquiries rose by 72% from H2 2024 to H1 2025.
“To gain clearer insight into investor objectives, the company asks website registrants to select the main reason they are considering gold. Its latest data – based on the answers from over 14,000 respondents – reveals that in H1 of 2025, 41.89% identified gold’s tax-free status as the main reason they were exploring the asset, up from 37.51% for the previous period.
In the UK, investment gold is exempt from VAT and silver, gold, and platinum bullion coins produced by The Royal Mint are not subject to Capital Gains Tax; there is also no cap on the amount of gain that can be realised CGT-free from such coins.
‘Wealth protection’ was the second most cited reason for considering gold as a potential investment in H1 of 2025 (26.42%) – down marginally from the H2 2024 figure of 26.62%; ‘annual growth’ followed closely with 25.80% of respondents stating this as their main motivation in the 2025 period.
Solomon Global Key Findings:
- In 2025, 41.89% of respondents cited gold’s ‘tax-free’ status as their top reason for considering the asset
- ‘Wealth protection’ was the second biggest motivator at 26.42%
- 25.8% of respondents said ‘annual growth’ was the key driver in H1 2025
- Gold’s role as an ‘inflation hedge’ remained consistent, with 5.89% citing it as the main reason in H1 of 2005 versus 5.72% in H2 of 2024
Those seeking annual growth would not have been disappointed, as gold increased over 40% between July 1st, 2024, and June 30th, 2025. “The UK tax burden is set to hit a new high as a proportion of GDP, so investors aren’t just buying gold to diversify portfolios or for gold’s historical appeal or ability to preserve wealth. This trend reflects a growing awareness of the unique tax advantages that the precious metal offers,” said Paul Williams, managing director of Solomon Global. Gold is standing out to investors as a smart, tax-efficient alternative in the face of economic uncertainty and mounting tax pressures.”
