How T56's clean price, gross redemption yield and after-tax net yield have moved over time. A premium feature — sign in and subscribe to view the full history.
| Your income tax band | Net yield | Savings equiv* |
|---|---|---|
| No tax | 5.909% | — |
| Basic 20% | 4.770% | 5.96% |
| Higher 40% | 3.636% | 6.06% |
| Additional 45% | 3.354% | 6.10% |
*Savings Rate Equivalent = the gross yield a fully-taxable savings account or bond would need to match this gilt's net yield, at that tax rate. Gilt coupons are taxed as income; the capital gain to par is exempt from CGT. Figures don't include your Personal Savings Allowance, so they're conservative. How we calculate this.
T56 is the UK Treasury gilt "5 3/8% Treasury Gilt 2056", paying a 5.375% annual coupon and redeeming at par (£100) on 31 January 2056 — about 29.4 years away. At its 11 Sep 2026 closing price of £92.59 the gross redemption yield is 5.909%. Trading below par, part of its return is a CGT-exempt capital gain to maturity (£741 per £10,000 nominal), so its net yield holds up better after tax than its coupon alone would suggest — a 45% taxpayer keeps 3.35% net. That is the tax treatment of gilts in practice: gilt coupons are taxed as income, while the capital gain is free of capital gains tax on any disposal — at redemption or an earlier sale — though interest accrued since the last coupon is taxed as income when you sell.
Prices are indicative closing levels for 11 Sep 2026 and may be delayed — see the live gilt table for current figures at your tax rate. Information only, not financial advice.
Information only — not financial advice. Gilt prices are indicative from last available close (11 Sep 2026) and may be delayed. Verify before transacting. UK tax treatment may change.