Commentary

D9.503 Excluded indexed securities

Corporate tax
Corporate tax | Commentary

D9.503 Excluded indexed securities

Corporate tax | Commentary

D9.503 Excluded indexed securities

An excluded indexed security is one where the amount payable on redemption depends on the percentage change over the redemption period in the value of chargeable assets of a particular description or in an index of their value1. The amount payable on redemption does not include interest payable at that time2.

A chargeable asset is one where a gain on its disposal would give rise to a chargeable gain on the assumptions that—3

  1.  

    (a)     the asset is owned by the person in question;

  2.  

    (b)     the person is not entitled to exemption4 from CGT as an authorised unit

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