A trust sold a bond which bought in secondary market with discount.
Is the profit/discount received subject to capital tax or income tax?
Example
A bond (off shore) was bought a year ago for £9,500 discounted value and redeemed the face value of £10,000 in secondary market.
Is this £500 interest or gain?
Please not the bonds are paying interest separately.
Discounted bonds
1 post • Page 1 of 1
Discounted bonds
by Chanmuganathan on Fri Jan 20, 2012 2:48 pm
- Chanmuganathan
- Posts: 36
- Joined: Wed Nov 24, 2010 2:39 pm
1 post • Page 1 of 1
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