F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

For the purposes of corporation tax, any gain arising to any company in the course of dealing in financial futures or in qualifying options, which apart from this subsection would constitute profits or gains chargeable to tax under Schedule D otherwise than as the profits of a trade, shall not be chargeable to tax under Case V or VI of Schedule D.

In this section “commodity or financial futures” and “qualifying options” have the same meaning as in section F3143 of the 1992 Act, and the reference to a gain arising in the course of dealing in commodity or financial futures includes any gain which is regarded as arising in the course of such dealing by virtue of subsection F3(3) of that section.