Valid from 01/04/2009

Part 7 U.K. Derivative contracts

Chapter 1 U.K. Introduction

How profits and losses from derivative contracts are dealt with U.K.

571 General rule: profits chargeable as income U.K.

(1) The general rule for corporation tax purposes is that all profits arising to a company from its derivative contracts are chargeable to corporation tax as income in accordance with this Part.

(2) But see Chapter 7, which makes provision for cases in which profits arising to a company from its derivative contracts are chargeable to corporation tax as chargeable gains.