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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Qualifying corporate bonds: gilt-edged securities/gilt strips

FA96/SCH13/PARA14 (1)Gilt-edged securities are not relevant discounted securities.

Gilt strips are rights to individual interest payments on specified future dates which have been separated - or stripped` - from a normal gilt-edged security. Gilt strips held by individuals, and other non-corporates, are relevant discounted securities, See IM1547.

For further advice on gilt-edged securities and gilt strips, see CG54900+. Except where TCGA92/S134 applies, see CG55045+, neither gilt-edged securities, nor gilt strips, are assets which can give rise to chargeable gains or allowable losses for TCGA purposes.