Commentary

C2.1013 Options in respect of gilts or qualifying corporate bonds

Capital gains tax
Capital gains tax | Commentary

C2.1013 Options in respect of gilts or qualifying corporate bonds

Capital gains tax | Commentary

C2.1013 Options in respect of gilts or qualifying corporate bonds

The disposal of a contract to acquire or dispose of gilt-edged securities (see C2.825) or qualifying corporate bonds (see C2.820) is exempt1 from treatment as a chargeable gain, but see Division D1.8 as regards the treatment for corporation tax purposes under the financial instruments legislation. Such a contract is disposed of when the outstanding obligations under it are disposed of or it is closed out by a matching transaction which covers those obligations2.

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