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Posted Wed, 02 Aug 2023 08:54:34 GMT by
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?
Posted Tue, 08 Aug 2023 11:46:26 GMT by HMRC Admin 32

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.
Posted Thu, 21 Dec 2023 17:00:11 GMT by
Hi can you confirm whether gains on UK Treasury Bills count against the personal savings allowance? Thanks
Posted Tue, 02 Jan 2024 15:32:10 GMT by HMRC Admin 2

Yes they do.

Thank you.

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