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Income and Corporation Taxes Act 1988

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Changes over time for: Section 468AA

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Version Superseded: 24/07/2002

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Point in time view as at 27/07/1999. This version of this provision has been superseded. Help about Status

Changes to legislation:

Income and Corporation Taxes Act 1988, Section 468AA is up to date with all changes known to be in force on or before 30 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

[F1468AA Authorised unit trusts: futures and options.U.K.

(1)Trustees shall be exempt from tax under Case I of Schedule D in respect of income if—

(a)the income is derived from transactions relating to futures contracts or options contracts, and

(b)the trustees are trustees of a unit trust scheme which is an authorised unit trust as respects the accounting period in which the income is derived.

(2)For the purposes of subsection (1) above a contract is not prevented from being a futures contract or an options contract by the fact that any party is or may be entitled to receive or liable to make, or entitled to receive and liable to make, only a payment of a sum (as opposed to a transfer of assets other than money) in full settlement of all obligations.

(3)F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

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