Income received upon maturity of US Treasury Notes

In 2023/24, I bought some US Treasury Notes from my USD cash account and held to maturity. I will report in my self assessment as Income from Savings: (USD receipt on maturity - USD costs) x conversion rate USD to GBP in month of receipt. Please advise whether the treatment is correct or not.

Hi taxabc,
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 here for more information:
SAIM3010 - Deeply discounted securities: introduction
Thank you.