If you pay 40% or 45% income tax, the gilt with the highest headline yield is rarely the one that leaves you with the most. These are the gilts that keep the most after tax, for each length of time you want to invest.
Ranked by what a 40% taxpayer keeps each year, at the 15 Oct 2026 close. The highlighted figure is the best in each group; every gilt links to its own page with the full breakdown.
| Gilt | Matures | Price | Gross | Net at 40% | Net at 45% | Savings rate to match (40%) |
|---|---|---|---|---|---|---|
| TG29 0 1/2% Treasury Gilt 2029 | 31 Jan 2029 | £90.91 | 4.74% | 4.51% | 4.49% | 7.73% |
| TN28 0 1/8% Treasury Gilt 2028 | 31 Jan 2028 | £94.82 | 4.29% | 4.24% | 4.23% | 7.22% |
| TG28 1 5/8% Treasury Gilt 2028 | 22 Oct 2028 | £94.09 | 4.73% | 4.03% | 3.95% | 6.89% |
| Gilt | Matures | Price | Gross | Net at 40% | Net at 45% | Savings rate to match (40%) |
|---|---|---|---|---|---|---|
| TG31 0 1/4% Treasury Gilt 2031 | 31 Jul 2031 | £80.57 | 4.84% | 4.72% | 4.71% | 8.12% |
| TG33 0 7/8% Green Gilt 2033 | 31 Jul 2033 | £75.91 | 5.12% | 4.69% | 4.64% | 8.07% |
| TG30 0 3/8% Treasury Gilt 2030 | 22 Oct 2030 | £83.94 | 4.82% | 4.65% | 4.63% | 7.98% |
| Gilt | Matures | Price | Gross | Net at 40% | Net at 45% | Savings rate to match (40%) |
|---|---|---|---|---|---|---|
| TG35 0 5/8% Treasury Gilt 2035 | 31 Jul 2035 | £67.72 | 5.26% | 4.93% | 4.89% | 8.49% |
| TR39 1 1/8% Treasury Gilt 2039 | 31 Jan 2039 | £61.20 | 5.51% | 4.89% | 4.82% | 8.42% |
| TG37 1 3/4% Treasury Gilt 2037 | 7 Sep 2037 | £70.03 | 5.43% | 4.53% | 4.43% | 7.81% |
| Gilt | Matures | Price | Gross | Net at 40% | Net at 45% | Savings rate to match (40%) |
|---|---|---|---|---|---|---|
| TG50 0 5/8% Treasury Gilt 2050 | 22 Oct 2050 | £33.08 | 5.85% | 5.34% | 5.28% | 9.20% |
| TG46 0 7/8% Treasury Gilt 2046 | 31 Jan 2046 | £43.10 | 5.82% | 5.22% | 5.15% | 9.00% |
| TG61 0 1/2% Treasury Gilt 2061 | 22 Oct 2061 | £22.60 | 5.51% | 4.99% | 4.93% | 8.59% |
Net yields tax every coupon at the rate in force when it is paid — 40% (or 45%) now, 42% (or 47%) from 6 April 2027 — and treat the gain to £100 at redemption as tax-free. They assume no unused Personal Savings Allowance. “Savings rate to match” is the gross rate a fully-taxable savings account would need to pay a 40% taxpayer to keep the same. Prices are indicative closing prices. Information only — not financial advice.
A gilt pays you in two ways: a fixed coupon twice a year, and the difference between what you pay and the £100 you get back at maturity. HMRC taxes the coupon as savings income, but the gain to £100 is free of capital gains tax — for every gilt, whenever you sell.
A gilt issued years ago when interest rates were low pays a small coupon — 0.125% or 0.5%, say — so today it trades well below £100. Most of its return comes as tax-free gain. A recently issued gilt with a 4% coupon trades near £100, so almost all of its return is taxable income. Two gilts maturing in the same year can have nearly the same gross yield, but after 40% or 45% tax the low-coupon one can keep a percentage point or more extra each year.
See every gilt, at your own tax rate, in the gilt table, or put two side by side — or a gilt against a savings account — on Compare.
Information only — not financial advice. Gilt prices are indicative from last available close and may be delayed. Verify before transacting. UK tax treatment depends on your circumstances and may change.