Query Regarding Capital Gain

This discussion clarifies capital gains tax rules for convertible debentures in the UK. It explains that while the conversion itself isn't a capital gain event under Section 47, and indexation benefits aren't typically available for debentures and bonds, the indexation period for shares acquired through conversion starts from the original purchase date of the debentures. This means you'll use the indexation for the year the debentures were bought, not when they were converted into shares.