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Posted Sat, 24 Feb 2024 21:26:00 GMT by WAI HOU LEE
If I invested US Treasury Bills and hold it until maturity. Which kinds of tax should I reported? Is it a capital gain tax?
Posted Tue, 27 Feb 2024 11:44:20 GMT by HMRC Admin 21
US government bonds, sometimes known as T-bills or treasury bills are generally taxed as income rather than capital gains.  The return is paid at maturity rather than regular interest payments.  In the UK, these are known as deeply discounted securities, with the discount being the difference between the price at which they were issued and the price received at maturity.  On a foreign investment the income is the difference between the purchase and redemption price after each has been converted to sterling on the day the transactions took place, so includes any foreign exchange gains.  Losses cannot be deducted. 
Have a look at Savings and Investment Manual for more information.
Thank you.

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