Commentary

D1.883 Treatment of profits and losses as chargeable gains or allowable losses

Corporate tax
Corporate tax | Commentary

D1.883 Treatment of profits and losses as chargeable gains or allowable losses

Corporate tax | Commentary

D1.883 Treatment of profits and losses as chargeable gains or allowable losses

In certain cases any profits or losses arising on a derivative contract are treated as chargeable gains or allowable losses for the purposes of corporation tax on chargeable gains.

Such treatment applies to the following types of contracts:

  1.  

    (a)     derivative contracts relating to land or tangible assets (see D1.884);

  2.  

    (b)     contracts for differences, the underlying subject matter of which is land (see D1.888);

  3.  

    (c)     certain options to acquire shares that are bifurcated from a creditor loan relationship (see D1.886); and

  4.  

    (d)     certain contracts for differences that are bifurcated from

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