Related HMRC Manuals

623(1)  This section applies to a derivative contract of a company for an accounting period if each of conditions A to D is met.

623(2)  Condition A is that the derivative contract is a relevant contract to which the company is treated as a party under section 585(2) (loan relationships with embedded derivatives) because of a creditor relationship of the company.

623(3)  Condition B is that the derivative contract is treated as a contract for differences by section 585(3) (contract treated as option, future or contract for differences).

623(4)  Condition C is that the creditor relationship is an index-linked gilt-edged security.

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