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Where Taxpayers and Advisers Meet

Gold Sovereigns & IHT

IHT Worrier
Posts:7
Joined:Wed Aug 06, 2008 3:16 pm
Gold Sovereigns & IHT

Postby IHT Worrier » Thu Feb 09, 2017 1:44 pm

As Gold Sovereigns are legal tender with a face value of £1 in theory one could gift 250 gold sovereigns to anyone in any one tax year within the IHT Annual Gifts Exemption.

Can anyone point me to a written ruling that it is the gold value rather than the face value of the coin that HMR&C would take take to be the value of the gift?

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Gold Sovereigns & IHT

Postby maths » Thu Feb 09, 2017 2:25 pm

IHTA 1984 s160.

IHT Worrier
Posts:7
Joined:Wed Aug 06, 2008 3:16 pm

Re: Gold Sovereigns & IHT

Postby IHT Worrier » Thu Feb 09, 2017 2:54 pm

Many thanks indeed, I thought it worth asking but having pointed me in the right direction IHTA 1984 s160 is crystal clear unfortunately.


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