Gilts to become more accessible

Budget and You

The Government announced initiatives to make the gilt-edged stocks market more accessible to investors and to reduce custodians' tax compliance obligations.

The initiatives will be achieved by giving everyone the choice from April next year to receive interest on gilts gross rather than after the deduction of tax.

The change affects the time at which tax on gilt-edged stocks must be paid, but it does not alter the extent to which interest is taxable.