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gilts

This topic has 1 reply, 2 voices, and was last updated 2 years ago by JillyB.

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March 28, 2023 at 9:10 pm #681964
momirox
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Hi Sir please solve this question and do explain me the solution as well . Moreover , How we solve these such kind of questions.?
Manon purchased 200,000 ( nominal value ) gilts, paying interest @ 1% for 211,000 on 1st september 2021. Interest is payable half yearly on 30 june and 31 december .
He sold the gilts on 1 december 2022 for 213,000 including accrued interest .
How much will manon include in savings income in respect of the gilts in the ta year 2022/2023?
March 31, 2023 at 3:10 pm #682100
JillyB
Keymaster
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Accrued income is covered in chapter 2 of the notes and discussed in the lecture. If you check page 24 (I think) then you will find the answer to your question as there is an example there which is almost exactly the same as your question.
Jill
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