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HMRC internal manual

Capital Gains Manual

Securities: Accrued Income Scheme: general


The Accrued Income Scheme changes the basis on which interest which has accrued up to the date of sale of most marketable securities is taxed. Instead of forming part of the sale proceeds or purchase price charged to Capital Gains Tax it is now treated as income. Full instructions can be found at SAIM4000. The special rules of TCGA92/S119 apply to the Capital Gains Tax treatment of disposals and acquisitions of securities within the scope of the Accrued Income Scheme. Their broad aim is to adjust the Capital Gains Tax disposal consideration and acquisition cost to exclude amounts covered by the Accrued Income Scheme.