accrued interest gilts

When entering the details of interest earned from gilts the online self assessment form will not accept a negative figure. This occurs when the year end occurs before any interest has been received, therefore subtracting the accrued interest from the 'received' figure should be a negative - but the form will not allow it!. Therefore it seems that one has to pay more tax than is due, simply because the form is incorrect! Surely the accrued interest excess under these circumstances should be allowable to set off against other income?

Hi,
Loss relief on deeply discounted securities was largely abolished on 27/03/23, as explained at SAIM3080 - please see link below.
There is an exception to this rule for government securities and there is also a special rule that relates to securities held before the above date.  
SAIM3080 - Deeply discounted securities: taxation: losses
Thank you.

Hello. I am NOT talking about deeply discounted securities. I am referring to ordinary gilts - please can you answer my question above, namely, why is it not possible to offset losses on gilt interest incurred by accrued interest exceeding received interest for the year?

Hi,
You can see guidance here:
HS343 Accrued Income Scheme (2024)
Any rules given are set by legisaltion and not for this forum to comment on.
Thank you.

Thank you yes, I have read HS343 before. It does not mention the situation where there is an overall interest loss, rather it says "If the result is a loss, you should ‘subtract’ this amount from the total gross interest you enter in box 3. ", which suggests that it is expected that the accrued interest is always smaller than the received interest. I very much doubt that the legislation says that one has to pay tax on interest which has not been received! I think it is an oversight of the HMRC site programmers, and I think it should be looked at again