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Finance Act 2002
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- 2002 c. 23
- SCHEDULE 27
- Paragraph 4
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4F1(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.
(2)After subsection (1A) of that section insert—
“(1B)If, apart from section 143(1) of the 1992 Act or section 128(2) above, gains arising in the course of dealing in financial futures or in qualifying options would constitute, for the purposes of the Corporation Tax Acts, profits and gains chargeable to tax under Case V or VI of Schedule D, then any loss arising in the course of that dealing shall not be allowable against profits and gains which are chargeable to tax under Case V or VI of Schedule D.”.
Textual Amendments
F1Sch. 27 para. 4(1) repealed (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 3 (with Sch. 2)
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