Income Tax (Trading and Other Income) Act 2005 (c. 5)

Part 4 U.K. Savings and investment income

Chapter 12 U.K. Disposals of futures and options involving guaranteed returns

Charge to tax under Chapter 12 U.K.

555 Charge to tax under Chapter 12 U.K.

(1) Income tax is charged on profits and gains from a disposal of a future or option that is a disposal involving guaranteed returns.

(2) Those profits and gains are treated as income for income tax purposes even if they would otherwise be taken to be a capital item.