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Live Metal Prices
Metal Ounce Gram
Gold £978.14 £31.45
Silver £13.017 £0.419
Platinum £703.55 £22.62
Palladium £736.11 £23.67

Updated 23:12 16/10/17

Tax Advantages

In addition to the traditional benefits of holding gold, there are a range of tax advantages of saving into a pension.

Claim tax relief on your contributions

Saving into a pension is a highly tax efficient way of building a nest egg for your retirement. When you make a contribution into your pension you receive tax relief from HMRC. The amount of tax relief you receive is dependent on the level of income tax you pay.

If you are a basic rate taxpayer (20%) and you want to increase your pension fund by £10,000, all you need to do is contribute £8,000 to your pension and the SIPP / SSAS provider will reclaim £2,000 direct from HMRC. This uplift is known as relief as source.

Higher rate (40%) and additional rate (45%) taxpayers will also receive 20% tax relief at source with higher rate taxpayers able to reclaim a further 20% via self-assessment and additional rate taxpayers 25%.

For a higher rate taxpayer a £10,000 pension contribution could effectively cost as little as £6,000 and for an additional rate taxpayer £5,500.

Non-taxpayers also receive basic rate tax relief on contributions up to £2,880, to which HMRC will add £720, making a total contribution of £3,600.

Making a pension contribution for someone else

You can also make a £2,880 contribution into someone's pension. Typically the payment is made to a partner, child or grandchild's pension. The contribution will also attract 20% tax relief making the the total value of the contribution £3,600.

Tax-efficient growth

You gold will grow free from capital gains tax, boosting the value of your pension over time.

Tax Free Cash

Once you reach 55 years old you can usually take 25% of your pension as a tax free lump sum.

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