ÀÏ˾»úÎçÒ¹¸£Àû

Gilts


Produced by a Tolley Personal Tax expert
Personal Tax
Guidance

Gilts


Produced by a Tolley Personal Tax expert
Personal Tax
Guidance
imgtext

STOP PRESS: The remittance basis is abolished from 6 April 2025, although this only applies to foreign income and gains arising on or after that date. The remittance basis rules still apply to unremitted income and gains arising before that date but remitted later. The legislation is included in FA 2025. For more details, see the Abolition of the remittance basis from 2025/26 guidance note.

‘Gilts’ are securities that are also known by a number of different names (eg gilt-edged securities, Government securities or treasury stock).

The Government sells gilts to fund the deficit between public spending and tax receipts. Normally, the Government pays interest to the holder of the gilt and the interest rate varies considerably depending on the issue. The rate can be fixed or linked to the retail prices index.

Interest on gilts bought on or after 6 April 1998 is payable gross (unless an application is made by the holder to the Bank of England for net payment).

Interest from gilts is savings income for the purposes of the income tax calculation, and so

Continue reading the full document
To gain access to additional expert tax guidance, workflow tools, generative tax AI, and tax research, register for a free trial of Tolley+â„¢
TAKE A FREE TRIAL NOW
Powered by
  • 21 Mar 2025 08:34

Home/ Tolley Tax Guidance/ Personal Tax / Additional information supplementary pages

Popular Articles

Owner-Managed Businesses

Class 4 national insurance contributions

Class 4 national insurance contributionsWhat is Class 4 NIC?Class 2 and Class 4 national insurance contributions (NIC) are paid by self-employed individuals and partners in a partnership on their profits arising within the UK. This guidance note considers Class 4 contributions. For Class 2

14 Jul 2020 11:13 | Produced by Tolley Read more Read more
Corporation Tax

FRS 102 ― tax presentation and disclosures

FRS 102 ― tax presentation and disclosuresPresentation of tax under FRS 102An entity must present changes in a current tax liability (or asset) and changes in a deferred tax liability (or asset) as a tax expense (or income) unless the item creating the current or deferred tax amount is recognised in

14 Jul 2020 11:46 | Produced by Tolley in association with Malcolm Greenbaum Read more Read more
Trusts and Inheritance Tax

Corrections and amendments to the IHT account

Corrections and amendments to the IHT accountThis guidance note explains how to deal with changes to the taxable values in the original inheritance tax account.Why do amendments arise?When the IHT account is first submitted to HMRC, it is based on information available at an early stage of the

14 Jul 2020 11:20 | Produced by Tolley Read more Read more