Commentary

B5.722 Financial traders

Business tax
Business tax | Commentary

B5.722 Financial traders

Business tax | Commentary

B5.722 Financial traders

Where a financial trader holds, or has held, an interest in a diversely owned fund, in computing the financial trader's trading profits or losses for his period of account (for income tax purposes) or his accounting period (for corporation tax purposes) (the relevant period) all distributions received by or credited to him in respect of his interest in the fund must be brought into account1 together with the following amounts2:

  1.  

    (a)     where the interest is held throughout the relevant period, the difference between the market value of the interest at the end of the previous period and the end of the relevant

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