Holding Period
Also: Ownership period, Retention period, Holding time
The holding period is the span between acquiring and disposing of an asset; in Ireland there is no holding-period relief for bullion — a gain is chargeable to Capital Gains Tax regardless of how long the metal was held.
The holding period is the length of time an investor keeps an asset between purchase and sale. In some countries it decides whether a gain on selling physical gold, silver, platinum or palladium is taxable. In Ireland, however, there is no holding-period relief for bullion: a private individual's gain is liable to Capital Gains Tax whether the metal was held for a week or for twenty years.
No holding-period relief in Ireland
Unlike Germany — where physical precious metals held for more than one year can be sold entirely tax-free under Paragraph 23 of the Income Tax Act — Ireland taxes the disposal of bullion under the general Capital Gains Tax regime. The current CGT rate is 33 %, applied to the chargeable gain after deducting the annual personal exemption.
| Holding time in Ireland | Tax treatment of the gain |
|---|---|
| Under 1 year | Chargeable to CGT at 33 % |
| 1 to several years | Chargeable to CGT at 33 % |
| More than several years | Still chargeable to CGT at 33 % |
Note: This page provides general information only and does not constitute tax or investment advice. For binding guidance contact a qualified tax adviser; the Revenue Commissioners (revenue.ie) are the authority on Irish CGT.
The annual exemption
Every individual has an annual CGT personal exemption of EUR 1,270. Gains up to this amount in a tax year are not chargeable; only the portion above it is taxed at 33 %. Unlike a threshold that applies to the whole amount once breached, this is a genuine exemption — the first EUR 1,270 of net gains always remains free.
Chargeable gain = disposal proceeds − acquisition cost − allowable costs − annual exemption (EUR 1,270)
CGT due = chargeable gain × 33 %
Example: buy on 15 March 2024, sell on 16 March 2025 for a EUR 3,000 gain → after the EUR 1,270 exemption, EUR 1,730 is taxed at 33 %, i.e. roughly EUR 571.
Matching disposals and losses
Where several lots of the same metal have been bought, the FIFO principle (first in, first out) generally applies to identify which units are treated as sold first. Anyone who has acquired, say, 10 ounces of gold in different tranches should document which batch was disposed of on a partial sale.
Allowable losses on assets can be set against chargeable gains in the same or later tax years, reducing the overall CGT charge.
Treatment of different precious-metal forms
- Physical bars and bullion coins: gains chargeable to CGT at 33 %, no holding-period relief.
- Investment gold: VAT-exempt on purchase (VAT Consolidation Act 2010), but any gain on sale is still liable to CGT.
- Silver, platinum, palladium (physical): 23 % VAT applies on purchase and raises the effective cost base; gains liable to CGT.
- Gold ETFs / ETCs: taxation can differ — some funds fall under different rules; seek advice on the specific product.
- Collector coins (numismatics): treated as chargeable assets; gains liable to CGT.
You can follow the current gold price and historical price trends at any time to judge a good moment to sell.
Keeping records
Investors are well advised to keep purchase receipts, invoices and bank statements permanently. Revenue may ask for proof of the acquisition date and cost when assessing a gain. For over-the-counter cash purchases, self-recording of date, weight and price is sensible. Note that cash purchases of EUR 10,000 or more trigger anti-money-laundering obligations for dealers under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010.
In brief
In Ireland the holding period does not exempt a gain on bullion — unlike Germany's one-year rule. Any profit above the annual EUR 1,270 exemption is chargeable to Capital Gains Tax at 33 %. Careful record-keeping of purchases and sales is essential to calculate the gain correctly. This is not tax advice.