General Studies · UK Income Tax - Accrued Income Scheme Calculation
Ahmed purchased £10,000 nominal value gilts (paying 2% interest) for £11,000 on 1 June 2024. Interest is payable half-yearly on 31 March and 30 September. He sold the gilts on 28 February 2025 for £11,400 (inclusive of accrued interest). How much should Ahmed declare as savings income from these gilts in the tax year 2024/25?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1£183
- 2£100
- 3£165
- 4£150✓
Correct answer
£150
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