Commentary

D9.437 Financial traders

Corporate tax
Corporate tax | Commentary

D9.437 Financial traders

Corporate tax | Commentary

D9.437 Financial traders

A person who carries on a trade and includes the proceeds of a transfer of securities in the computation of the profit or loss of that trade is excluded from the accrued income scheme in respect of the transfer. This will include a Lloyd's underwriter. Such a person is excluded in respect of an acquisition of securities if, had it been an acquisition, he or she would have included it in the computation of trading profit or loss1. This exclusion does not apply to the other party to the transaction.

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