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Bonds

Bonds are a kind of loan through which governments or companies raise money.

If you buy a bond:

  • you are technically lending money to the bond issuer
  • they are obliged to pay you back interest (the bond “coupon”), or the value of the bond (also called the “principal”) at a later date (“the maturity”).

You might need to pay taxes on profits from bonds:

  • if you earned a coupon from a bond, that income is taxed as income from savings interest
  • if you sell a government bond (also called “a gilt”) for a profit, that profit is tax-free
  • earnings from bonds held in an ISA are also completely tax-free
  • if you sell a corporate bond, that profit is tax-free only if it’s a “qualifying corporate bond” (QCB). Otherwise you might need to declare and pay Capital Gains Tax (CGT).

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