CG12608 - Exemptions: gilt-edged securities, qualifying corporate bonds, certain National Savings products

TCGA92/S115

Gains accruing on the disposal of

• gilt-edged securities, see CG54900+, or
• qualifying corporate bonds, see CG53700+, or
• any option or contract to acquire or dispose of gilt-edged securities or qualifying corporate bonds

on or after 2 July 1986 are not chargeable gains. Gilt-edged securities are defined in TCGA92/SCH9.

TCGA92/S121

Savings certificates and non-marketable securities issued by the Department of National Savings are exempted from Capital Gains Tax by TCGA92/S121. There is a statutory definition of savings certificates and non-marketable securities in Section 121(2). The exemption covers

• Savings certificates (fixed interest)
• Savings certificates (index-linked)
• Yearly plan certificates
• Childrens bonus bonds
• Ulster savings certificates
• Premium Bonds.