UK gilt table — net yield after tax by tax band

Income tax

0% None

20% Basic

40% Higher

45% Additional

Cash to investCashiThe £ figures in each gilt's detail show what this cash actually buys at the current price — nominal held = cash ÷ (dirty price ÷ 100).

Unused PSAiUnused Personal Savings Allowance — coupon income up to this amount is untaxed (£1,000 basic-rate, £500 higher-rate, £0 additional-rate). Net yields lift toward gross where it applies; leave £0 if your allowance is already used. Because it's a fixed £ amount, its effect depends on the cash amount — a larger holding spreads it thinner, so the net yield eases back toward the full-band figure.

What the “Net Yield” column means. The headline Gross Yield is before tax. Net Yield is what you actually keep after income tax at the band you select above — because a gilt's coupon is taxed as income, but its capital gain is exempt from capital gains tax on any disposal — the pull to £100 at redemption, or an earlier sale — while interest accrued since the last coupon is taxed as income when you sell. That's why a low‑coupon gilt trading below par can leave a higher‑ or additional‑rate taxpayer with far more than its gross yield suggests. Compare the Gross and Net columns to see the difference your tax rate makes. From 6 April 2027 tax on savings income, gilt coupons included, rises by 2 percentage points (to 22%, 42% and 47%) — net yields already tax every coupon paid after that date at the higher rate. Net yields tax the coupon in full, so they're conservative — your Personal Savings Allowance may lift the real figure on smaller holdings. The Savings Equiv column shows what a cash savings account would need to pay (gross, before tax) to match each gilt's after-tax return: it's the net yield divided by (1 − your tax rate), using your rate averaged over the gilt's life since savings interest gets the same April 2027 rise. A 40% taxpayer looking at a gilt yielding 4.0% net would need a savings account paying about 6.7% gross to compete — often well above current cash rates, which is why gilts can be especially attractive for higher- and additional-rate taxpayers. .

Type Need it byNeed the money by 📅 Pick a month 📈 Yield curve

Compare with other gilts → 📈 Price history

Amount in issueiSettled nominal amount outstanding, per the UK Debt Management Office register at close of business. It updates a settlement day after a tap or buyback settles, so it can lag a fresh auction announcement by a day.

Clean price

Gross yield

Running yield

Index-linked gilt

Edit cash, price or yield to run a what-if — every figure below recalculates.

CashiThe amount you plan to invest. Nominal held = cash ÷ (dirty price ÷ 100). Saved to your account; the £ figures below scale to it.

Clean price

Gross yield (%)

Savings rate equivalentiThe gross rate a savings account would need to pay to match this gilt's after-tax return at your selected tax rate. Gilts pay coupons taxed as income but the pull-to-par gain is CGT-free.

Net yield

Gilt advantageiHow much more (or less) this gilt's savings-rate-equivalent pays than the average easy-access savings rate.

Per your investment

Tax-free gain

Gross interest p.a.

Net interest p.a.

Total after-tax return

Reference data

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ISIN:
Coupon dates:

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Bank Rate 3.75% · Avg savings — · Source: Bank of EnglandBoE

Epic	Description / Maturity	Coupon	Price	Chg	Gross Yield	Net Yield (40%)	Real yield	Savings Equiv	Running Yield	Mod. Duration	Size £bn	Tax Free Gain /£100
T27A2027 · 4.125%	4 1/8% Treasury Gilt 2027 2027-01-29	4.125%	99.97	—	4.223%	2.575%	—	4.292%	4.126%	0.25	32.4	+£0.03
TS272027 · 3.75%	3 3/4% Treasury Gilt 2027 2027-03-07	3.75%	99.82	—	4.245%	2.743%	—	4.572%	3.757%	0.36	37.4	+£0.18
TG272027 · 1.25%	1 1/4% Treasury Gilt 2027 2027-07-22	1.25%	97.83	—	4.272%	3.745%	—	6.326%	1.278%	0.72	41.9	+£2.17
T272027 · 1.25%	1¼% Index-linked Treasury Gilt 2027 2027-11-22	1.25%	101.72	—	RPI-linked	—	—	—	—	—	14.2	CGT-free
TR272027 · 4.25%	4 1/4% Treasury Stock 2027 2027-12-07	4.25%	99.62	—	4.601%	2.820%	—	4.796%	4.266%	1.06	33.8	+£0.38
TN282028 · 0.125%	0 1/8% Treasury Gilt 2028 2028-01-31	0.125%	94.90	—	4.325%	4.271%	—	7.276%	0.132%	1.24	42.3	+£5.10
TE282028 · 4.375%	4 3/8% Treasury Gilt 2028 2028-03-07	4.375%	99.45	—	4.793%	2.973%	—	5.069%	4.399%	1.30	47.2	+£0.55
TS282028 · 4.5%	4 1/2% Treasury Gilt 2028 2028-06-07	4.5%	99.48	—	4.836%	2.946%	—	5.032%	4.524%	1.51	35.2	+£0.52
T282028 · 0.125%	0⅛% Index-linked Treasury Gilt 2028 2028-08-10	0.125%	99.75	—	RPI-linked	—	—	—	—	—	17.9	CGT-free
TG282028 · 1.625%	1 5/8% Treasury Gilt 2028 2028-10-22	1.625%	94.06	—	4.796%	4.086%	—	6.991%	1.728%	1.92	38.7	+£5.94
TR282028 · 6%	6% Treasury Stock 2028 2028-12-07	6%	102.47	—	4.754%	2.280%	—	3.903%	5.855%	1.93	20.7	−£2.47
TG292029 · 0.5%	0 1/2% Treasury Gilt 2029 2029-01-31	0.5%	90.96	—	4.765%	4.543%	—	7.780%	0.550%	2.20	33.6	+£9.04
T292029 · 0.125%	0⅛% Index-linked Treasury Gilt 2029 2029-03-22	0.125%	98.18	—	RPI-linked	—	—	—	—	—	15.5	CGT-free
T29K2029 · 4%	4% Treasury Gilt 2029 2029-05-22	4%	97.77	—	4.933%	3.232%	—	5.539%	4.091%	2.37	42.0	+£2.23
TS292029 · 4.125%	4 1/8% Treasury Gilt 2029 2029-07-22	4.125%	97.96	—	4.929%	3.182%	—	5.456%	4.211%	2.53	38.0	+£2.04
TR292029 · 0.875%	0 7/8% Treasury Gilt 2029 2029-10-22	0.875%	89.03	—	4.866%	4.473%	—	7.673%	0.983%	2.88	44.6	+£10.97
T302030 · 4.375%	4 3/8% Treasury Gilt 2030 2030-03-07	4.375%	98.18	—	4.968%	3.120%	—	5.355%	4.456%	3.07	45.2	+£1.82
T30K2030 · 4.625%	4 5/8% Treasury Gilt 2030 2030-05-22	4.625%	98.83	—	4.987%	3.033%	—	5.207%	4.680%	3.23	10.0	+£1.17
T30I2030 · 4.125%	4⅛% Index-linked Treasury Stock 2030 2030-07-22	4.125%	341.82	—	RPI-linked	—	—	—	—	—	4.8	CGT-free
TG302030 · 0.375%	0 3/8% Treasury Gilt 2030 2030-10-22	0.375%	83.92	—	4.861%	4.687%	—	8.050%	0.447%	3.87	42.3	+£16.08
TR302030 · 4.75%	4 3/4% Treasury Gilt 2030 2030-12-07	4.75%	99.42	—	4.906%	2.907%	—	4.994%	4.778%	3.63	45.8	+£0.58
T31H2031 · 4.125%	4 1/8% Treasury Gilt 2031 2031-03-07	4.125%	96.62	—	4.996%	3.236%	—	5.560%	4.269%	3.91	39.2	+£3.38
TG312031 · 0.25%	0 1/4% Treasury Gilt 2031 2031-07-31	0.25%	80.56	—	4.875%	4.756%	—	8.174%	0.310%	4.62	42.6	+£19.44
TR312031 · 0.125%	0⅛% Index-linked Treasury Gilt 2031 2031-08-10	0.125%	95.29	—	RPI-linked	—	—	—	—	—	17.8	CGT-free
T312031 · 4%	4% Treasury Gilt 2031 2031-10-22	4%	95.58	—	5.013%	3.288%	—	5.652%	4.185%	4.45	36.6	+£4.42
TG322032 · 1%	1% Treasury Gilt 2032 2032-01-31	1%	81.58	—	5.028%	4.558%	—	7.836%	1.226%	4.98	36.8	+£18.42
T32H2032 · 4.625%	4 5/8% Treasury Gilt 2032 2032-03-07	4.625%	98.01	—	5.052%	3.094%	—	5.319%	4.719%	4.66	10.8	+£1.99
TR322032 · 4.25%	4 1/4% Treasury Stock 2032 2032-06-07	4.25%	96.35	—	5.003%	3.181%	—	5.470%	4.411%	4.84	46.0	+£3.65
T322032 · 1.25%	1¼% Index-linked Treasury Gilt 2032 2032-11-22	1.25%	99.13	—	RPI-linked	—	—	—	—	—	14.7	CGT-free
TR332033 · 3.25%	3 1/4% Treasury Gilt 2033 2033-01-31	3.25%	90.21	—	5.095%	3.650%	—	6.278%	3.603%	5.50	34.2	+£9.79
T33H2033 · 4.125%	4 1/8% Treasury Gilt 2033 2033-03-07	4.125%	94.72	—	5.107%	3.324%	—	5.717%	4.355%	5.47	30.7	+£5.28
TG332033 · 0.875%	0 7/8% Green Gilt 2033 2033-07-31	0.875%	75.94	—	5.131%	4.704%	—	8.092%	1.152%	6.37	39.8	+£24.06
T332033 · 0.75%	0¾% Index-linked Treasury Gilt 2033 2033-11-22	0.75%	94.53	—	RPI-linked	—	—	—	—	—	18.1	CGT-free
T342034 · 4.625%	4 5/8% Treasury Gilt 2034 2034-01-31	4.625%	96.80	—	5.158%	3.182%	—	5.475%	4.778%	6.01	32.5	+£3.20
TRTQ2034 · 0.75%	0¾% Index-linked Treasury Gilt 2034 2034-03-22	0.75%	93.43	—	RPI-linked	—	—	—	—	—	14.6	CGT-free
TS342034 · 4.25%	4 1/4% Treasury Gilt 2034 2034-07-31	4.25%	94.04	—	5.192%	3.346%	—	5.758%	4.519%	6.42	36.1	+£5.96
TR342034 · 4.5%	4 1/2% Treasury Gilt 2034 2034-09-07	4.5%	95.70	—	5.172%	3.238%	—	5.572%	4.702%	6.47	39.9	+£4.30
T2IL2035 · 2%	2% Index-linked Treasury Stock 2035 2035-01-26	2%	242.05	—	RPI-linked	—	—	—	—	—	9.1	CGT-free
T352035 · 4.5%	4 1/2% Treasury Gilt 2035 2035-03-07	4.5%	94.99	—	5.247%	3.304%	—	5.686%	4.737%	6.80	40.8	+£5.01
TG352035 · 0.625%	0 5/8% Treasury Gilt 2035 2035-07-31	0.625%	67.87	—	5.247%	4.922%	—	8.471%	0.921%	8.24	35.6	+£32.13
TR352035 · 1.125%	1⅛% Index-linked Treasury Gilt 2035 2035-09-22	1.125%	94.14	—	RPI-linked	—	—	—	—	—	22.1	CGT-free
T35V2035 · 4.75%	4 3/4% Treasury Gilt 2035 2035-10-22	4.75%	96.17	—	5.291%	3.250%	—	5.594%	4.939%	7.19	41.8	+£3.83
T4Q2036 · 4.25%	4 1/4% Treasury Stock 2036 2036-03-07	4.25%	92.41	—	5.288%	3.423%	—	5.892%	4.599%	7.50	32.4	+£7.59
T36N2036 · 4.875%	4 7/8% Treasury Gilt 2036 2036-07-31	4.875%	96.45	—	5.345%	3.257%	—	5.607%	5.054%	7.55	42.5	+£3.55
TG362036 · 0.125%	0⅛% Index-linked Treasury Gilt 2036 2036-11-22	0.125%	83.21	—	RPI-linked	—	—	—	—	—	13.9	CGT-free
T37H2037 · 4.625%	4 5/8% Green Gilt 2037 2037-03-07	4.625%	94.01	—	5.386%	3.376%	—	5.812%	4.920%	8.01	12.8	+£5.99
TG372037 · 1.75%	1 3/4% Treasury Gilt 2037 2037-09-07	1.75%	70.22	—	5.412%	4.515%	—	7.774%	2.492%	9.42	32.7	+£29.78
TR372037 · 1.125%	1⅛% Index-linked Treasury Gilt 2037 2037-11-22	1.125%	90.82	—	RPI-linked	—	—	—	—	—	13.1	CGT-free
TG382038 · 3.75%	3 3/4% Treasury Gilt 2038 2038-01-29	3.75%	85.88	—	5.444%	3.724%	—	6.412%	4.367%	8.76	32.9	+£14.12
T382038 · 1.75%	1¾% Index-linked Treasury Gilt 2038 2038-09-22	1.75%	96.12	—	RPI-linked	—	—	—	—	—	14.5	CGT-free
TR382038 · 4.75%	4 3/4% Treasury Stock 2038 2038-12-07	4.75%	93.67	—	5.471%	3.397%	—	5.850%	5.071%	8.82	28.2	+£6.33
TR392039 · 1.125%	1 1/8% Treasury Gilt 2039 2039-01-31	1.125%	61.51	—	5.476%	4.856%	—	8.362%	1.829%	10.86	26.0	+£38.49
TG392039 · 0.125%	0⅛% Index-linked Treasury Gilt 2039 2039-03-22	0.125%	77.50	—	RPI-linked	—	—	—	—	—	14.6	CGT-free
T392039 · 4.25%	4 1/4% Treasury Gilt 2039 2039-09-07	4.25%	88.45	—	5.515%	3.597%	—	6.194%	4.805%	9.50	25.8	+£11.55
TG402040 · 4.375%	4 3/8% Treasury Gilt 2040 2040-01-31	4.375%	89.01	—	5.556%	3.588%	—	6.179%	4.915%	9.60	34.1	+£10.99
TR402040 · 0.625%	0⅝% Index-linked Treasury Gilt 2040 2040-03-22	0.625%	81.25	—	RPI-linked	—	—	—	—	—	14.1	CGT-free
T402040 · 4.25%	4 1/4% Treasury Gilt 2040 2040-12-07	4.25%	87.32	—	5.558%	3.621%	—	6.236%	4.867%	10.01	28.6	+£12.68
T41F2041 · 5.25%	5 1/4% Treasury Gilt 2041 2041-01-31	5.25%	96.69	—	5.589%	3.340%	—	5.752%	5.430%	9.74	25.3	+£3.31
T412041 · 0.125%	0⅛% Index-linked Treasury Gilt 2041 2041-08-10	0.125%	73.08	—	RPI-linked	—	—	—	—	—	12.4	CGT-free
TG412041 · 1.25%	1 1/4% Treasury Gilt 2041 2041-10-22	1.25%	56.28	—	5.599%	4.869%	—	8.386%	2.221%	12.78	34.6	+£43.72
T42A2042 · 0.625%	0⅝% Index-linked Treasury Gilt 2042 2042-11-22	0.625%	77.16	—	RPI-linked	—	—	—	—	—	12.6	CGT-free
T422042 · 4.5%	4 1/2% Treasury Gilt 2042 2042-12-07	4.5%	88.01	—	5.642%	3.597%	—	6.196%	5.113%	10.77	29.0	+£11.99
TR432043 · 4.75%	4 3/4% Treasury Gilt 2043 2043-10-22	4.75%	89.76	—	5.699%	3.564%	—	6.139%	5.292%	11.20	34.9	+£10.24
TG442044 · 3.25%	3 1/4% Treasury Gilt 2044 2044-01-22	3.25%	73.26	—	5.707%	4.057%	—	6.989%	4.436%	12.05	29.8	+£26.74
T442044 · 0.125%	0⅛% Index-linked Treasury Gilt 2044 2044-03-22	0.125%	67.51	—	RPI-linked	—	—	—	—	—	15.7	CGT-free
T452045 · 3.5%	3 1/2% Treasury Gilt 2045 2045-01-22	3.5%	75.05	—	5.721%	3.966%	—	6.832%	4.664%	12.29	30.1	+£24.95
TR452045 · 0.625%	0⅝% Index-linked Treasury Gilt 2045 2045-03-22	0.625%	73.32	—	RPI-linked	—	—	—	—	—	14.3	CGT-free
TG462046 · 0.875%	0 7/8% Treasury Gilt 2046 2046-01-31	0.875%	43.66	—	5.751%	5.157%	—	8.884%	2.004%	16.15	23.5	+£56.34
TR462046 · 0.125%	0⅛% Index-linked Treasury Gilt 2046 2046-03-22	0.125%	64.16	—	RPI-linked	—	—	—	—	—	13.5	CGT-free
T462046 · 4.25%	4 1/4% Treasury Gilt 2046 2046-12-07	4.25%	82.48	—	5.728%	3.709%	—	6.390%	5.153%	12.38	26.7	+£17.52
TG472047 · 1.5%	1 1/2% Treasury Gilt 2047 2047-07-22	1.5%	48.81	—	5.761%	4.792%	—	8.256%	3.073%	15.69	26.3	+£51.19
T472047 · 0.75%	0¾% Index-linked Treasury Gilt 2047 2047-11-22	0.75%	72.34	—	RPI-linked	—	—	—	—	—	11.7	CGT-free
TG482048 · 0.125%	0⅛% Index-linked Treasury Gilt 2048 2048-08-10	0.125%	60.87	—	RPI-linked	—	—	—	—	—	11.8	CGT-free
TG492049 · 1.75%	1 3/4% Treasury Gilt 2049 2049-01-22	1.75%	50.09	—	5.757%	4.635%	—	7.986%	3.493%	15.91	30.9	+£49.91
TR492049 · 1.875%	1⅞% Index-linked Treasury Gilt 2049 2049-09-22	1.875%	90.33	—	RPI-linked	—	—	—	—	—	8.4	CGT-free
T492049 · 4.25%	4 1/4% Treasury Gilt 2049 2049-12-07	4.25%	81.16	—	5.730%	3.683%	—	6.346%	5.237%	13.30	21.8	+£18.84
TR502050 · 0.5%	0½% Index-linked Treasury Gilt 2050 2050-03-22	0.5%	65.24	—	RPI-linked	—	—	—	—	—	12.2	CGT-free
TG502050 · 0.625%	0 5/8% Treasury Gilt 2050 2050-10-22	0.625%	33.70	—	5.758%	5.259%	—	9.061%	1.855%	19.96	32.7	+£66.30
TG512051 · 0.125%	0⅛% Index-linked Treasury Gilt 2051 2051-03-22	0.125%	57.42	—	RPI-linked	—	—	—	—	—	11.0	CGT-free
T51A2051 · 1.25%	1 1/4% Treasury Gilt 2051 2051-07-31	1.25%	40.63	—	5.795%	4.884%	—	8.415%	3.077%	18.09	29.5	+£59.37
TG522052 · 0.25%	0¼% Index-linked Treasury Gilt 2052 2052-03-22	0.25%	58.55	—	RPI-linked	—	—	—	—	—	12.7	CGT-free
T522052 · 3.75%	3 3/4% Treasury Gilt 2052 2052-07-22	3.75%	73.34	—	5.746%	3.810%	—	6.565%	5.113%	14.45	26.0	+£26.66
TG532053 · 1.5%	1 1/2% Green Gilt 2053 2053-07-31	1.5%	41.98	—	5.792%	4.705%	—	8.107%	3.574%	18.15	30.4	+£58.02
T532053 · 3.75%	3 3/4% Treasury Gilt 2053 2053-10-22	3.75%	72.45	—	5.778%	3.820%	—	6.582%	5.176%	14.90	28.3	+£27.55
T542054 · 4.375%	4 3/8% Treasury Gilt 2054 2054-07-31	4.375%	80.71	—	5.778%	3.650%	—	6.290%	5.421%	14.39	32.1	+£19.29
TR542054 · 1.625%	1 5/8% Treasury Gilt 2054 2054-10-22	1.625%	42.90	—	5.755%	4.585%	—	7.901%	3.788%	18.39	25.2	+£57.10
TG542054 · 1.25%	1¼% Index-linked Treasury Gilt 2054 2054-11-22	1.25%	76.42	—	RPI-linked	—	—	—	—	—	15.1	CGT-free
TR8F2055 · 1.25%	1¼% Index-linked Treasury Gilt 2055 2055-11-22	1.25%	76.16	—	RPI-linked	—	—	—	—	—	10.2	CGT-free
TR4Q2055 · 4.25%	4 1/4% Treasury Gilt 2055 2055-12-07	4.25%	79.07	—	5.737%	3.637%	—	6.267%	5.375%	14.67	28.3	+£20.93
T562056 · 5.375%	5 3/8% Treasury Gilt 2056 2056-01-31	5.375%	94.75	—	5.747%	3.403%	—	5.864%	5.673%	14.09	10.2	+£5.25
TR562056 · 0.125%	0⅛% Index-linked Treasury Gilt 2056 2056-11-22	0.125%	52.21	—	RPI-linked	—	—	—	—	—	7.1	CGT-free
TG572057 · 1.75%	1 3/4% Treasury Gilt 2057 2057-07-22	1.75%	42.84	—	5.722%	4.443%	—	7.657%	4.085%	18.63	31.5	+£57.16
T582058 · 0.125%	0⅛% Index-linked Treasury Gilt 2058 2058-03-22	0.125%	51.26	—	RPI-linked	—	—	—	—	—	11.0	CGT-free
TR602060 · 4%	4% Treasury Gilt 2060 2060-01-22	4%	74.88	—	5.691%	3.628%	—	6.252%	5.342%	15.71	25.7	+£25.12
TG612061 · 0.5%	0 1/2% Treasury Gilt 2061 2061-10-22	0.5%	23.20	—	5.421%	4.903%	—	8.450%	2.156%	26.72	26.5	+£76.81
T622062 · 0.375%	0⅜% Index-linked Treasury Gilt 2062 2062-03-22	0.375%	54.65	—	RPI-linked	—	—	—	—	—	12.5	CGT-free
TR632063 · 4%	4% Treasury Gilt 2063 2063-10-22	4%	74.25	—	5.672%	3.582%	—	6.173%	5.387%	16.43	19.5	+£25.75
TG652065 · 2.5%	2 1/2% Treasury Gilt 2065 2065-07-22	2.5%	51.25	—	5.590%	3.901%	—	6.723%	4.878%	18.34	21.1	+£48.75
TR652065 · 0.125%	0⅛% Index-linked Treasury Gilt 2065 2065-11-22	0.125%	46.84	—	RPI-linked	—	—	—	—	—	8.1	CGT-free
T682068 · 0.125%	0⅛% Index-linked Treasury Gilt 2068 2068-03-22	0.125%	46.15	—	RPI-linked	—	—	—	—	—	12.6	CGT-free
TR682068 · 3.5%	3 1/2% Treasury Gilt 2068 2068-07-22	3.5%	66.56	—	5.572%	3.580%	—	6.170%	5.258%	17.28	21.2	+£33.44
TG712071 · 1.625%	1 5/8% Treasury Gilt 2071 2071-10-22	1.625%	36.98	—	5.334%	3.949%	—	6.806%	4.394%	21.71	24.7	+£63.02
TG732073 · 0.125%	0⅛% Index-linked Treasury Gilt 2073 2073-03-22	0.125%	48.75	—	RPI-linked	—	—	—	—	—	5.4	CGT-free
TR732073 · 1.125%	1 1/8% Treasury Gilt 2073 2073-10-22	1.125%	29.00	—	5.151%	4.035%	—	6.955%	3.879%	24.58	11.1	+£71.00

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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.

UK gilt table — net yield after tax by tax band

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