UK Treasury bill - Treasury bill chat

Stock Discussions
21

Oh I get you know. That’s pretty brave. Good luck with the ladder

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22

You can get access to ETF gilts already. But I guess you mean the underlying bonds…

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23

What’s the point in doing half a job then? Why not release with tax wrapper? Other platforms provide it, you’ve crowdfunded plenty, this could be part of your moat for your DIY investor.

Missed a trick here….

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24

Ive put a small amount in to give it a go. Nice to have a new asset. But feel you might aswell throw it into an etf or something

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25

Just wondering so if I put 5k down on it at the end I need to declare that like 28 pounds to hmrc?

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26

I’m surprised that the UK government doesn’t treat these in a more tax-advantaged way. They should be selling this kind of product from NS&I and pumping up the patriotism.

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27

Will it work the way I asked just wondering because there is not a lot of time before the order closes. Thanks

28

Can’t imagine so, unless you’ve maxed out your ‘free’ allowance we get. Depends on the bill too very complicated and Freetrade haven’t made it clear tbh

Could be wrong. Can someone help?

29

It’s been made clear multiple times it’s classed as income so you will need to report it HMRC at the end of of tax year.

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30

Matt can you show the wider readership of this? Does the ‘gain’ not come under personal ‘free’ allowance?

31

no, it not savings interest - which comes under ‘Personal Savings Allowance’

any gain from T Bills is classed as income, which is taxed at the usual rates

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32

whatever yield you get has to be declared yes. then either 20% or 40% of that goes down the tubes.

33

Learn more about UK Treasury bills (freetrade.io)

34

Although buying treasuries directly is cool it’s

  1. not what people have been asking for. employer SIPP contributions, crypto, LISA, JISA etc. would have been better
  2. not tax efficient as mentioned above.
  3. would have been more useful a year ago before the stock market started picking back before riskier investments became more attractive
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35

Agree

36

I just went a head with it well in 6 mins am locked in Yolo haha

37

Even if I’m in Scotland so it’s just taxed at 20%?

Im not expecting much back I thought maybe around 28 buck but it pays some Xmas presents haha

38

Depends on earnings/tax bracket.

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39

See it confuses me a tad but I’m guessing because at the end if the year I end up in the 21% bracket that it would be taxed at 21% because you’re over that limit at the end.

Not sure though.

40

correct. ultimately all income is added together - wherever you land is the rate you pay.