PTC/Government Securities/Gilts Interest Taxable?

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sorcha
sorcha Registered Posts: 9 New contributor 🐸
in AAT Level 4 (Level 8 in Scotland)
Is the interest from Government Securities/Gilts liable for Income tax or is it exempt?

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  • Sally
    Sally Registered Posts: 69 Regular contributor ⭐
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    I think they are but are received gross rather than net
  • sorcha
    sorcha Registered Posts: 9 New contributor 🐸
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    Thank you - I think perhaps my uncertainty is also because they are exempt from capital gains tax. Why income taxed but not CGT'd is a bit of a puzzle to me!

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