SI 2019/540 - The Taxation of Chargeable Gains (Gilt-edged Securities) Order 2019
Released 12 March 2019
SI 2019/540 adds eleven new securities to the list of non-chargeable ‘gilt-edged securities’ from 11 March 2019.
The Taxation of Chargeable Gains (Gilt-edged Securities) Order 2019 adds eleven new securities to the list of ‘gilt-edged securities’ for the purposes of the Taxation of Chargeable Gains Act 1992, s. 115, which provides that gains on the disposal of ‘gilt-edged securities’ are not chargeable gains and, therefore, not subject to capital gains tax (or, for companies, corporation tax). TCGA 1992, Sch. 9, para. 1 provides that ‘gilt-edged securities’ are those securities specified in Sch. 9, Part II and such stocks and bonds issued under the National Loans Act 1968, s. 12, denominated in sterling and issued after 15th April 1969, as may be specified by order made by the Treasury. The order specifies eleven securities and was made on 11 March 2019.
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