Guides to gilts and to using GiltIQ, written against the site's own data and pages.
The £5,000 starting rate for savings is a 0 per cent band on savings income that shrinks by £1 for every £1 of other income above the personal allowance, so the coupon income it leaves untaxed depends on the rest of a reader's income — and a single worked example makes the pound-for-pound reduction plain.
Gilt coupons are savings income, so the personal savings allowance shelters the first slice of them — £1,000 for a basic-rate taxpayer, £500 for a higher-rate one and nothing for an additional-rate one — and how far a holding reaches into that allowance depends on its coupon and size.
Disposals of gilts are exempt from capital gains tax for individuals, so a sale's realised gain or loss does not enter a CGT computation — but the coupons remain taxable savings income, so the exemption is about the capital, not the whole return.
A gilt's half-yearly coupon counts towards the UK tax year that contains its payment date, not the year you bought or sold it, so mapping a holding's payments to the right return is a question of dates rather than dealing.
The net redemption yield is the gross yield with income tax on the coupons taken out, so the gap between the two columns depends on the coupon and the price rather than on the gilt's quality.
The list shows a gilt's yield twice, once compounded annually and once on the Debt Management Office's semi-annual convention, and the gap between the two columns is a convention rather than a market move.
The gilt is the same instrument whichever wrapper holds it, but the wrapper decides how its coupons are taxed — and for gilts, whose gains are already tax-exempt, the shelter that matters is income tax.
How the taxable income report turns your coupon payments, accrued interest and booked trades into the single net figure each UK tax year wants, and the quirks (like the accrued income scheme) it handles for you.