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Home / Simons-Taxes /Corporate tax /Part D1 Corporation tax generally /Division D1.8 Derivative contracts /Taxation treatment of debits and credits / D1.883 Treatment of profits and losses as chargeable gains or allowable losses
Commentary

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


Corporate tax

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. Ìý

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

  2. Ìý

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

  3. Ìý

    (c)ÌýÌýÌýÌý certain

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