CTA09/S640 – 642

Chargeable gains treatment: when does it apply?

‘Annual’ chargeable gains treatment under S641

In general, credits and debits arising on derivative contracts are brought into account in the same way as loan relationships credits and debits (CFM51000+). There are, however, certain exceptions, set out in s640(2) and listed below:

contracts relating to land or certain tangible moveable property (S643) (CFM55080);

equity options embedded into convertible or exchangeable securities (creditor relationships only) (S645) (CFM55200);

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