STATUTORY INSTRUMENTS 2006 NO 3170 CAPITAL GAINS TAX CORPORATION TAX

THE TAXATION OF CHARGEABLE GAINS (GILT-EDGED SECURITIES) (NO 2) ORDER 2006

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 2006 on 28 November 2006.
The Order adds five 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 HM Revenue and Customs website (www.hmrc.gov.uk) or obtained by writing to the address given below:
HMRC, Charity, Assets and Residence Ministerial Correspondence Unit, 1st Floor, Ferrers House, PO Box 38, Castle Meadow Road, Nottingham NG2 1BB.