This section of the guidance covers interactions between derivative contracts and the chargeable gains code. Chapter 7 of CTA09 deals with the cases where profits or losses on derivatives are brought into account as chargeable gains, rather than as income. Chapter 8 contains a number of miscellaneous provisions concerning chargeable gains.
The provisions in Chapters 7 and 8 relate, broadly, to:
•‘annual chargeable gains’ on certain derivatives, and the carry back of capital losses arising from such derivatives
•the tax treatment of certain property derivatives
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