Jay Taxpayer
Joined: 3/28/2024
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RE: How to report income and gain from GILT?
I think HMRC admin is not directing people to a quite important part of SAIM3010. I quote: ITTOIA05/S432 excludes certain types of security from being deeply discounted securities. These are company shares gilt-edged securities which have not been stripped (see SAIM3130 for more on strips) life assurance policies capital redemption policies. You have bought TN25, unstripped. There is no tax on the capital gain element, whether as capital gains tax, or as implied income.