Upcoming changes to Capital Gains Tax (CGT) have prompted over half of UK investors to create a wealth plan.
Research from Royal Mint found that less than a third (31%) of investors were aware of the upcoming changes, which come into effect from 6 April.
However, 53% said the changes will prompt them to construct a wealth plan in order to secure their current and future investment gains.
The research added that 35% of investors felt prepared for the changes, with this number rising to 50% among Gen-Z.
Out of the investors who have taken steps to prepare for the changes, 36% have consulted a specialist tax adviser since the new rules were announced.
Overall, 44% of UK investors said they are considering investing in bullion coins to avoid being impacted by the tax changes.
As it is recognised as legal British currency, bullion gold, silver and platinum coins are exempt from CGT, meaning UK investors can make unlimited tax-free profit on them.
Additionally, in March gold hit a new all-time high, with The Royal Mint stating bullion coins are becoming increasingly sought after among investors.
It added that it saw a record number of customers buying bullion via its website during 2023.
The Royal Mint director of precious metals Andrew Dickey said: “While it is concerning that many investors remain unprepared for the imminent changes, the new rules are prompting investors to review their tax exposure and wealth plans to secure future investment gains.
“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.
“As time runs out before the changes, it is important for investors to explore avenues that allow them to protect their investment gains.”
First introduced in 1965, CGT is a tax on profit when individuals or companies sell an asset, outside of a tax-free wrapper, that has increased in value.
Currently, the CGT tax-free allowance for investments is £6,000, but this is set to halve to £3,000 from the 6 April.
Chancellor Jeremy Hunt made this announcement during his Spring Budget on 6 March.
To obtain these results, The Royal Mint spoke of 2,000 UK investors.
