Offshore Bond matureity/redemption - where to declare gains

This year a long-term offshore bond issued by the International Bank of Research and Development matured after 25 years - it was zero coupon and had never realised any previous gain but has now matured and redeemed with a lump sum. Please can you tell me where this needs to be declared on the Self Assessment and whether it is treated as capital gains or income? As it was in joint names with my spouse - can it just be declared by one of us.

Hi,

As it is in joint names, you both need to declare your split of the income. You can see guidance here:

IFM03520 - Tax treatment of investors in Funds Investing in Non-Reporting Offshore Funds (FINROF): investors within the charge to income tax

Thank you.