Which tax year to declare the Capital Gain and Accrued Interest of Treasury Bond

Hi HMRC Admin, After studied the example 2 of SAIM4130 - Accrued Income Scheme: calculating accrued income profits and losses: Taxation of accrued income profits and losses. I am not sure whether my understanding is correct. I tried to write what I understand below. Please correct me if it is not correct. Thank you! "For Treasury Bond, when the chargeable income be declared depends on the tax year in which the next interest period ended, even though some of the transactions occurred in last tax year. Above chargeable income mentioned does not only include the interest from any accrued interest or coupon interest from the Treasury Bond, but also the capital gain/loss from any buy or sell transactions of the Treasury Bond. That means if the transaction of the Treasury Bond was on 30 Dec 2022, if it's interest period ended in 15 May 2023, then the gain/loss from this transaction, and also the accrued interest should be declared in 2023-2024 tax year, instead of 2022-2023." Is my understanding correct? Thank you

Hi ACTS,
From an Income Tax angle, there doesn't seem to be anything regarding a limit on the amount & frequency that "gifts" can be made from non-resident family members.
 As a UK resident, you should declare the income to the bank that the money is being transferred in to, advising them where it's from etc & why he's receiving it.
You will need to report any interest that is accruing on any amounts that remain in your bank account(s) and if you have invested it, you will need to consider if there are any CG, partnership, income from property implications and report those accordingly.
Thank you. 


 

Hi HMRC Admin, Thank you for your reply. But it seems that the reply is not for my inquiry. I am looking forward to receiving your reply about my inquiry. Thank you!

Hi ACTS,
Please have a look at HS343 and the working sheet, regarding the accrued income scheme Accrued Income Scheme (Self Assessment helpsheet HS343).  
CG54500 advises that the Accrued Income Scheme (AIS) changes the basis on which interest accrued up to the date of sale of most marketable securities is taxed.  
Instead of forming part of the sale proceeds or purchase price charged to Capital Gains Tax it is now treated as income.
Have a look at SAIM4000 + SAIM4000 - Accrued Income Scheme: overview and contents.  
The broad aim of the scheme is to adjust the CGT disposal consideration and acquisition costs to exclude amounts covered by the AIS.  
The guidance surrounding the calculation and when accrued income is assessable applies to that income only and not the profit/loss on the disposal of the bond. 
Therefore, your example is correct in part. The accrued income would be chargeable in the tax year in which the applicable interest period ends.
Most securities other than shares are within the scope of AIS. However, many of the securities covered by the scheme will be exempt from CGT because they are Gilts or
Qualifying Corporate Bonds (QCB).
Treasury Bonds/Gilts are treated as Deeply discounted securities and as such are not chargeable to CGT but rather as income. SAIM 3070 refers.
The charge on any profit/loss applies to the tax year in which the disposal occurs.
Thank you.