Less than a third (31 per cent) of UK investors are aware of new capital gains tax rules changes, research from The Royal Mint has revealed.
The survey of over 2,000 UK investors found just 35 per cent of respondents said they feel prepared for the upcoming changes.
This rises to 50 per cent among Gen Z investors who are likely to have smaller investment pots.
The CGT tax-free allowance for investments is set to halve on April 6, falling from £6,000 to £3,000.
The Royal Mint director of precious metals, Andrew Dickey, said while it is “concerning” that many investors remain unprepared for the changes, the new rules are prompting investors to review their tax exposure and wealth plans.
“Whether investors are looking to capitalise on the CGT-exemption for bullion coins or looking to grow their portfolio with a safe-haven asset, gold is becoming a go-to investment for many with tax risk and wealth building on their mind,” he added.
“As time runs out before the changes, it is important for investors to explore avenues that allow them to protect their investment gains.”
In light of the upcoming changes, the research also showed how investors are focused on finding solutions and strategies to mitigate future tax liabilities.
The Royal Mint found half of UK investors were motivated to invest in CGT-exempt investments while nearly a third (30 per cent) were proactively restructuring their investment portfolio to avoid being impacted.
Additionally, of those that have taken steps to prepare for the changes, nearly a third (31 per cent) have reviewed their current investments in order to assess their risks.
A further 36 per cent of respondents have consulted a specialist tax adviser since the new rules were announced to receive advice and increase their portfolio’s resilience.
tom.dunstan@ft.com
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