EIB bond chargeable asset?

EIB bond chargeable asset?

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Is redemption a CGT disposal?
Is the the bond a chargeable asset?

If not the proceeds will not count towards the £34,000 de minimis level
nick farrow

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By User deleted
08th Jan 2007 15:45

Some yes, some no?
An EIB bond, designated in sterling, is surely a QCB and therefore does not fall within the CGT legislation. However, many are expressed in a wide range of foreign currencies and ,prima facie ,will thus not be QCB's. So , unless there is a special deal between the Bank and HMRC, CGT will be relevant . I can't find reference to any deal: has anyone else?

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By nick farrow
08th Jan 2007 17:13

thanks Abacus
the holding is denominated in sterling just like UK gilts in stockbrokers report

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