CGT on UK Treasury Bills

I am trying to find out what the tax treatment is for UK Treasury Bills. UK Treasury Bills are issued by the UK Government. They differ from conventional UK Gilts in that they have a 0% coupon rate. The investment return comes solely from the difference between the buy price (typically less than £100) and the sell price (£100 if sold at maturity) i.e. the capital gain. Conventional Gilts benefit from zero CGT liability on the capital gain. Do UK Treasury Bills also benefit from zero CGT liability, please?

Hi,

UK Treasury Bills are not classified as gilts for taxation purposes. They are covered by the taxation rules which apply to deeply discounted securities. Any gains from UK Treasury Bills are taxed as income.

SAIM3010 provides background information on deeply discounted securities.

SAIM3010 - Deeply discounted securities

Thank you.

Hi can you confirm whether gains on UK Treasury Bills count against the personal savings allowance? Thanks

Hi,

Yes they do.

Thank you.