Where gilt-edged securities or qualifying corporate bonds (or options on them) are disposed of, the gain on disposal is exempt from CGT. The closing out of an option by a person entering into a reciprocal option is a disposal for this purpose. In consequence, losses accruing on disposals are not generally allowable, though a limited relief for loans may be available.

‘Gilt-edged securities’ are, for this purpose, those government securities set out in a prescribed list and any additional securities which may be specified subsequently by statutory instrument.

A ‘qualifying corporate bond’ (QCB) is, broadly:

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.