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Taxable Income

Tax Year
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Sums coupon payments, plus accrued interest received on sales and deducted on purchases, under the UK Accrued Income Scheme. Capital gains on UK gilts are excluded as they're CGT-exempt for individuals. Two rules this follows that are easy to get wrong:
  • Timing: a buy/sell's accrued interest is attributed to the tax year of that security's next coupon date, not the trade's settlement date — so a purchase settled near the end of a tax year, with its next coupon falling after 5 April, is correctly carried into next year.
  • No cross-security netting: a loss on one gilt only ever offsets interest on that same gilt, never a different one — see the breakdown by security below.
Hold gilts in an ISA or SIPP? Build a portfolio group of your taxable accounts and select it above.
Income Received £425.00 Coupons + accrued on sales
Accrued Paid -£0.00 Accrued on purchases · deductible
Net Taxable Income £425.00 Figure for 2025/2026 tax return
By Security
1 security Excel

Tax Year Date Settlement Type Gross Amount Taxable Impact
07 Jun 2025 —
Coupon
£212.50 +£212.50
07 Dec 2025 —
Coupon
£212.50 +£212.50
Each security's profit/loss is relieved only against its own coupon income — never against a different gilt.