The 2026-27 tax year ends on 5 April 2027. Gains above the £3,000 allowance are taxed at 18% or 24%. Many coins are outside Capital Gains Tax altogether: HMRC treats sovereigns dated 1837 or later and Britannia gold coins as sterling currency, and a coin that is not legal tender sold for £6,000 or less is exempt.
This is general information from HMRC guidance, not tax advice.
What are the CGT figures for 2026-27?
| Item | 2026-27 |
|---|---|
| Tax year | 6 April 2026 to 5 April 2027 |
| Annual exempt amount | £3,000 |
| Rate within the basic rate band | 18% |
| Rate above it, and for higher or additional rate taxpayers | 24% |
| Basic rate band | £37,700 |
| Chattels limit per item or set | £6,000 |
| Report even with no tax, if registered for Self Assessment and total sale proceeds exceed | £50,000 |
Sources: GOV.UK Capital Gains Tax (allowances, rates and the print version), GOV.UK tax on personal possessions, HMRC Capital Gains Manual CG76573.
Which coins are outside Capital Gains Tax?
HMRC's own wording, from its Capital Gains Manual:
- Exempt as sterling currency. "Sovereigns minted in 1837 and later years and Britannia gold coins are currency but, like all sterling currency, are exempt." (CG78305)
- Chargeable. "Coins which are currency but not sterling, for example Krugerrands, are chargeable assets", and the chattels exemption does not apply to them. (CG78305)
- Chattels. Coins that are not legal tender, "including pre-1837 sovereigns", are chattels. No gain is chargeable if a single chattel sells for £6,000 or less. (CG78305, CG76573)
- Sets. HMRC may treat several coins sold to the same person as one set with a single £6,000 limit, but only if they are "essentially similar and complementary" and worth more together than apart. (CG76631, CG76632)
- Coins also appear by name on GOV.UK's list of personal possessions that may be taxed: "jewellery, paintings, antiques, coins and stamps". (GOV.UK possessions)
Our guide to CGT-exempt coins covers the sovereign and Britannia rules in more detail, and VAT on gold and silver coins covers the other tax that comes up when buying.
Before 5 April 2027: what HMRC describes
- Work out each gain. Sale price minus what you paid, less allowable costs such as "fees, such as for valuing or advertising". Use market value if the coin was a gift, inherited without a known Inheritance Tax value, or owned before April 1982. (GOV.UK possessions)
- Between £6,000 and £15,000. Take £6,000 from the sale price, multiply by 1.667, and use whichever is lower, that figure or the actual gain. (GOV.UK possessions)
- Losses. Losses are set against gains in the same tax year, and unused losses carry forward. You can claim up to 4 years after the end of the tax year of the sale. For a chattel sold for less than £6,000, work out the loss as if you sold it for £6,000. (GOV.UK losses, GOV.UK possessions)
- The allowance. It applies to your total gains for the year, and you can set it against gains taxed at the higher rate first. (GOV.UK CGT allowances and rates)
- Spouse or civil partner. No CGT on assets given or sold to a husband, wife or civil partner you live with. If they sell later, their gain runs from your original cost. (GOV.UK gifts)
- Joint ownership. Each owner has their own £6,000 limit on their share. (GOV.UK possessions, CG76573)
HMRC describes nothing beyond this, and neither does this post.
When do you report a gain on coins?
- Self Assessment. Report the gain in the return for the tax year after the sale. (GOV.UK reporting)
- Real time Capital Gains Tax service (UK residents). HMRC's rule is to report by 31 December in the tax year after you made your gain and pay by 31 January. (GOV.UK reporting)
- "You do not get a bill for Capital Gains Tax." (GOV.UK CGT print version)
Frequently asked questions
Do you pay capital gains tax on selling coins in the UK?
Sometimes. Gains on sovereigns dated 1837 or later and on Britannia gold coins are exempt as sterling currency. Other coins can be taxable, though a coin that is not legal tender is exempt if it sells for £6,000 or less. Source: CG78305, CG76573.
Are gold sovereigns exempt from capital gains tax?
Yes, if dated 1837 or later. HMRC treats them as sterling currency. Earlier sovereigns are not legal tender, so they are chattels and the £6,000 rule applies. Source: CG78305.
What is the CGT allowance for 2026-27?
£3,000 for individuals. Gains above it are taxed at 18% within the basic rate band and 24% above it. Source: GOV.UK CGT allowances and rates.
When does the 2026-27 tax year end?
On 5 April 2027. The tax year runs from 6 April to 5 April. Source: GOV.UK CGT print version.
What is the £6,000 chattels rule?
No gain is chargeable on a personal possession, such as a coin that is not legal tender, sold for £6,000 or less. Between £6,000 and £15,000 the gain is capped at 5/3 of the amount over £6,000, which is HMRC's "multiply by 1.667". Source: GOV.UK possessions, CG76573.
Are Krugerrands exempt from CGT?
No. HMRC names Krugerrands as currency that is not sterling, so they are chargeable, and the chattels exemption does not apply to them. Source: CG78305.
This is general information from HMRC guidance, not tax advice.