Treasury
Treasury
STATUTORY INSTRUMENTS 2005 NO 276 TAXES
THE CAPITAL GAINS TAX (GILT-EDGED SECURITIES) ORDER 2005
The Treasury, in exercise of the power conferred by paragraph 1 of Schedule 9 to the Taxation of Chargeable Gains Act 1992, made the Capital Gains Tax (Gilt-edged Securities) Order 2005 on 9 February 2005.
The Order adds two Treasury Stocks to the list of gilt-edged securities to which the exemption under section 115 of the Taxation of Chargeable Gains Act 1992 applies. The effect of the exemption is that any gain arising on the disposal of such a gilt (or of any option or contract to acquire or dispose of such a gilt) is not a chargeable gain, and any loss arising in such circumstances is not an allowable loss, for the purposes of tax on chargeable gains.
A list of gilts to which this and previous Orders apply may be found on the Inland Revenue Website (www.inlandrevenue.gov.uk) or obtained by writing to the address given below:
Inland Revenue
Capital & Savings Ministerial Correspondence Unit
1st Floor
Ferrers House
PO Box 38
Castle Meadow Road
Nottingham
NG2 1BB