There are specific types of options which are financial products and these have different tax treatments in some respects from standard options, as set out below, including not being categorised as wasting assets1and also that the owner of the option may get an allowable loss if the option is abandoned2. The different types can be summarised as quoted (see C2.1016), traded (see C2.1017) and financial options.
Financial options are defined3 for this purpose as options which are not traded options (see C2.1017) but which:
- Ìý
(a)ÌýÌýÌýÌý relate to currency, shares, securities or an interest rate granted
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