Professional Tools for UK Gilt Investors

Our mission is to provide professional-grade analysis and portfolio management tools for UK Gilts to everyday retail investors. Explore real-time data, track your holdings, and analyse post-tax yields using our key features below.

Conventional Gilts Inflation-Linked Gilts Track Your Holdings

Or jump directly to our other popular tools:

Yield Curve Bond Ladder Market Insights Report

Featured Article

Know Exactly What to Declare: Introducing the Taxable Income Report

2026-06-28

A new report that calculates your net taxable income from gilt interest for any UK tax year — automatically summing coupon payments and accrued interest received, deducting accrued interest paid on purchases, and giving you a single figure ready for your tax return.

Featured Article

Building a Steady Stream: A Guide to Creating a Gilts Bond Ladder

2024-04-27

Imagine having a reliable source of income that ticks away in the background, regardless of market fluctuations. That's the potential benefit of a bond ladder.

Know Exactly What to Declare: Introducing the Taxable Income Report

We're pleased to introduce the Taxable Income report, a new addition to giltsyield.com that takes the guesswork out of declaring your gilt interest. Instead of trawling through contract notes and coupon statements, you now get a clear, tax-year-by-tax-year breakdown of your taxable income from gilts — calculated for you in seconds.

From Trades to Tax Return: One Clear Figure

UK gilts have a few quirks at tax time. Coupon payments are taxable as income, the Accrued Income Scheme means the interest you pay when buying and receive when selling has to be accounted for, and capital gains are exempt for individuals. Our new report applies all of this automatically across your portfolios and hands you the net figure to enter on your return.

Key Features

Net taxable income at a glance: Coupons and accrued interest received, less accrued interest paid, summarised in three headline figures.
Tax-year aware: Switch between UK tax years (6 April – 5 April) with a single click.
Correct settlement treatment: Trades are dated by their settlement date and coupons by their payment date, so events fall in the right tax year.
Accrued Income Scheme handled for you: Accrued interest paid on purchases is deducted; accrued interest received on sales is added.
Capital gains excluded: Gilts are exempt from Capital Gains Tax for UK individuals, so capital is left out of the taxable total.
Full audit trail: Every taxable event is listed line by line — date, bond, type, portfolio, gross amount and taxable impact.

How It Works

Open Holdings → Taxable Income from the menu.
Select the tax year you want to report on.
The tool gathers every coupon, purchase and sale across your portfolios for that year.
It calculates the taxable impact of each event and totals them into your net taxable income.
Review the line-by-line breakdown and use the headline figure for your tax return.

Holding Gilts in an ISA or SIPP?

Interest on gilts held in tax-sheltered accounts such as ISAs and SIPPs isn't taxable. The report works on whichever portfolios you choose, so simply create a portfolio group containing only your taxable accounts and select it at the top of the page — the figures will reflect just those holdings.

Get Started Today

Ready to take the stress out of declaring your gilt interest?

Click here to view your Taxable Income report

You will need to register, log in and have booked or imported your trades in order to use the report.

A Note on Accuracy

This feature is currently in beta and is provided for information only — it is not tax advice. While we've taken care to apply the rules correctly, you should always check the figures against your own contract notes and consult a qualified tax adviser before filing.

We're continually refining our tools based on your feedback. Give the Taxable Income report a try and let us know what you think by emailing us at admin@giltsyield.com!

UK Gilts Taxation Guide for UK Tax Resident Individuals

Income Tax on Gilt Interest

How Gilt Interest is Taxed

Gilt interest is treated as savings income for tax purposes. Since 2016, interest has been paid gross (without tax deducted at source), meaning recipients must account for any tax due through their tax return.

Tax Band	Personal Savings Allowance	Savings Tax Rate
Basic Rate (20%)	£1,000	20%
Higher Rate (40%)	£500	40%
Additional Rate (45%)	£0	45%

If your non-savings income is below £17,570, you may be eligible for the 0% starting rate for savings on up to £5,000 of savings income, including gilt interest.

Capital Gains Tax on Gilts

CGT Exemption Explained

UK government gilts enjoy a special tax status regarding capital gains:

All gains from gilt disposals are exempt from Capital Gains Tax
This applies to both conventional and index-linked gilts
The exemption covers gains from both market value increases and redemption proceeds
Losses on gilts cannot be used to offset gains from other investments

Important: The CGT exemption applies only to direct gilt holdings. Gilt fund investments may be subject to normal CGT rules.

Tax-Efficient Gilt Selection

When possible it is recommended to use one of the following tax-advantaged accounts to invest in Gilts:

Strategy	Implementation	Benefits
ISA Wrapping	Hold gilts within an ISA wrapper	Tax-free interest payments No reporting requirements Flexible access to funds
Pension Investment	Include gilts in SIPP or personal pension	Tax relief on contributions Tax-free growth 25% tax-free lump sum at retirement

Important: When investing in gilts outside of tax-advantaged accounts (ISA, SIPP), the coupon rate becomes a crucial consideration for tax efficiency.

Key Principles

Lower coupon gilts often result in better after-tax returns for higher-rate taxpayers
Capital gains from gilts remain tax-free, while interest (coupon) payments are taxable
Gilts trading below par (discount gilts) effectively convert some of the return from taxable interest to tax-free capital gains

Market Pricing Dynamics

Lower-coupon gilts often trade at lower yields due to their tax advantages:

Higher-rate taxpayers create natural demand for low-coupon gilts
This demand can compress yields on low-coupon issues
The yield difference may not fully compensate for the tax advantage

Post-Tax Yield Comparison Tool

Use our free tool to compare the effective post-tax yields of different gilts based on your marginal tax rate, the gilt's coupon rate and the current Gilts market yield:

Special Considerations

Index-linked Gilts

Index-linked gilts offer protection against inflation through:

Inflation-adjusted interest payments
Inflation-adjusted principal repayment
Both adjustments are based on RPI changes
Inflation uplift is tax-exempt

The inflation adjustment to the principal is tax-exempt, making these particularly attractive for tax-efficient investing.

Gilt Funds

Investing in gilts through funds has different tax implications:

Capital gains are not exempt from CGT
Income distributions may be treated as interest
Different reporting requirements apply
May be subject to fund-level charges

Consider the tax efficiency of direct gilt holdings versus fund investments based on your circumstances.

View all articles