Solomon Global’s managing director, Paul Williams, had an in-depth interview with Emma Agyemang, global tax correspondent for the Financial Times, about how UK CGT changes were fuelling gold investment, particularly in tax-efficient, legal tender bullion coins from The Royal Mint.
Why the Financial Times Covered This Story and Spoke with Solomon Global
The Financial Times approached Solomon Global to discuss the trends the company had observed in demand for physical gold bullion.
This was in response to research conducted by Solomon Global (read more here), which found that 42% of investors cited tax efficiency as their primary motivation for exploring gold as an investment option.
The Financial Times article highlighted a clear trend consistent with Solomon Global’s own findings: UK investors are buying gold coins in record numbers. Solomon Global reported a 72% rise in product enquiries in the first half of 2025 compared with the second half of 2024.
The article also documented how The Royal Mint saw online bullion transactions reach record levels in the first quarter of the 2025-26 financial year, with coin sales specifically up 115% year-on-year. Similarly, the World Gold Council reported that UK bar and coin demand was up 17% over the same period.
Solomon Global Key Findings
- 42% of Solomon Global customers 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 for exploring the asset
The full article, “UK investors buy gold coins in record numbers to mitigate against tax,” is available via the Financial Times.
Key Takeaways for Solomon Global Clients
Control over your assets
Physical gold offers autonomy and independence from centralised systems, so it is great for those who value their privacy and having complete control of their assets. Unlike gold ETFs, physical gold (and silver) is not dependent on the performance of a third party.
Tax efficiency - legally avoiding Capital Gains Tax (CGT)
UK legal-tender coins, such as gold Britannias and Sovereigns, produced by The Royal Mint, are exempt from Capital Gains Tax for UK residents. With the annual CGT allowance slashed from £12,300 (2022/23) to just £3,000 from 6 April 2024, and rates increased by Chancellor Rachel Reeves from 10% to 18% (basic) and 20% to 24% (higher), this exemption has become increasingly significant.
Liquidity
Gold bullion coins produced by The Royal Mint are among the most widely recognised and in-demand precious metal products globally, which means they have high liquidity and typically trade with a relatively low premium over the gold spot price.
Long-term wealth preservation
Gold has historically been viewed as a safe-haven asset. It can help investors build wealth due to its unique characteristics as a store of value, a hedge against inflation and as a diversification tool/strategy. Gold also protects against currency devaluation and has seen steady long-term appreciation.
If you have any questions about how physical gold and CGT-exempt Royal Mint coins align with your investment objectives, our team would be pleased to discuss the available options with you.
