Gilt-edged securities or gilts are UK Government loan stock. Since 2 July 1986 all disposals of gilt-edged securities have been exempt from Capital Gains Tax, TCGA92/S115 (1)(a).

The formal definition of gilt-edged securities is in TCGA92/SCH9/PARA1. They are

securities listed in Part II of Schedule 9. This includes all securities which were listed up to April 1992

securities which are specified by Treasury Order. These are securities which have been issued since April 1992.

The list of gilt-edged securities in TCGA92/SCH9 included in the annual editions of the Taxes Acts may not identify all gilt-edged securities.

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