Found Treasure? Here's What You Need to Know About Your Windfall
If you’ve ever dreamed of striking it rich by finding buried treasure in a field, a Solihull metal detectorist’s recent discovery might inspire you — but it also shows why understanding the rules around unexpected windfalls is crucial for your finances.
Stuart Jones, 42, unearthed a rare Tudor gold and diamond ring worth between £15,000 and £20,000 while metal detecting in Wormington last November. The ring will sell at auction later this month, and Stuart will pocket half the proceeds after splitting them with the landowner. But this isn’t just a feel-good story — it’s a timely reminder of what to do if you find something valuable on someone else’s land.
Who owns treasure found in a field?
In the UK, if you find something valuable on someone else’s property, the law is clear: you don’t automatically own it. Under the “law of finding,” you’re generally legally required to inform the landowner. The proceeds are typically split between finder and landowner, just as Stuart has done. Failing to report a find can leave you open to legal disputes and complications later.
The tax angle
Here’s where finances get more complicated. The proceeds from selling found items may be subject to income tax, depending on the circumstances and the amount. HMRC treats some found treasures differently — if it’s classed as “treasure” under the Treasure Act, there may be specific rules. The best move is to inform HMRC and seek professional advice before receiving your money. A tax advisor or accountant can help you understand your obligations.
What Stuart did right
Stuart kept the landowner informed throughout the entire process and documented everything from the British Museum examination to auction. He also had the foresight to recover soil from the find spot, which helped locate a missing diamond. These actions protected both his interests and the landowner’s.
If you find something valuable
Don’t assume it’s yours. Inform the landowner immediately, document the find with photos, and consider getting it valued by a specialist. If you’re unsure whether it’s “treasure” under the law, contact your local Finds Liaison Officer or the Portable Antiquities Scheme (PAS). And before any sale, speak to an accountant about tax implications.
Finding treasure might seem like a lucky break — and it is — but handling it properly protects you legally and financially.