Cash to investiThe £ 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. 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 simply the net yield divided by (1 − your tax rate). A 40% taxpayer looking at a gilt yielding 4.0% net would need a savings account paying 6.67% gross to compete — often well above current cash rates, which is why gilts can be especially attractive for higher- and additional-rate taxpayers.
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.
The inflation rate at which this index-linked gilt and a conventional gilt of the same maturity would deliver the same return. It's what the market prices in — derived from today's yields, not a forecast. It also embeds an inflation risk premium and liquidity effects, so it isn't a pure inflation expectation.
Index ratio
Settlement (dirty)
Uplifted accrued
Nominal held
Gross income p.a.
Net income p.a.
From February 2030 the RPI methodology will be aligned with CPIH, which has historically run roughly 0.8–1% lower, and index-linked gilt holders receive no compensation for the change. It was announced in 2020 and is already priced into the market, so the real yields and breakevens shown here reflect it — YieldSmart makes no adjustment for it. This is context to be aware of, not an input to any figure shown here.
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.
Index-linked gilts pay an RPI-linked return, so their yield is a real yield — not comparable to a conventional gilt's nominal yield. YieldSmart computes an assumption-free real yield for the 32 three-month-lag linkers (shown here and on each gilt's page). The two pre-2005 eight-month-lag gilts (T30I, T2IL) can only be quoted under a future-inflation assumption, so the table leaves their real yield to the gilt page. Their prices are the index-uplifted clean price (marked *).
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.
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