Commentary

D7.302 Particular transactions

Corporate tax
Corporate tax | Commentary

D7.302 Particular transactions

Corporate tax | Commentary

D7.302 Particular transactions

Unless they are regarded, under normal principles, as profits of a trade, or fall within the legislation relating to loan relationships (see Division D1.7) or derivative contracts (see Division D1.8), gains on the following are taxed as chargeable gains:

  1.  

    (a)     transactions in commodity or financial futures and options on a recognised futures exchange1

  2.  

    (b)     over-the-counter commodity or financial futures transactions where one party to the contract is an authorised person within the Financial Services and Markets Act 2000 s 31(1)(a), (b) or (c)2

  3.  

    (c)     transactions in qualifying options, ie traded options and financial options3

HMRC have set out

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