SCHEDULES
F1SCHEDULE 26Derivative contracts
F1Part 1Introduction
F11Profits arising from derivative contracts
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F1Part 2Derivative contracts
F12Derivative contracts and relevant contracts
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F12ANon-financial contracts with embedded derivatives
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F12BHybrid derivatives
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F13Contracts to satisfy accounting requirements etc
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F14Contracts excluded by virtue of their underlying subject matter
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F14AContracts which become derivative contracts: chargeable assets
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F14B
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F14DTreatment of credits and debits on former chargeable asset
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F15
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F15A
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F16
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F17
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F18
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F19Underlying subject matter which is subordinate or of small value disregarded
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F110
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F111Meaning of “underlying subject matter”
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F112Definition of terms relating to derivative contracts
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F113Power to amend paragraphs 2 to 12 and Part 9
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F1Part 3Method of taxation
F114Method of bringing amounts into account
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F115Credits and debits brought into account
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F116Exchange gains and losses arising from derivative contracts
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F1Part 4 Computation of amounts to be brought into account
F117AComputation in accordance with generally accepted accounting practice
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F117BAmounts recognised in determining company’s profit or loss
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F117CPower to make further provision by regulations
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F121Basis of accounting for contracts falling within paragraph 6, 7 or 8
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F1Part 5Special provision for release of liability
F122Release of liability under derivative contract
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F1Part 6Special computational provisions
F122ADeemed assignment of derivative contracts on company ceasing to be resident in UKetc
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F123Derivative contracts for unallowable purposes
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F124Derivative contracts for unallowable purposes: supplementary
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F125Debits and credits treated as relating to capital expenditure
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F125ADebits and credits recognised in equity or shareholders' funds
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F126Transfers of value to connected companies
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F127Exchange gains and losses where derivative contracts not on arm’s length terms
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F127ADisposals for consideration not fully recognised by accounting practice
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F128Transactions within groups
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F129Transactions within groups: exceptions relating to insurance
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F130Transactions within groups: fair value accounting
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F130ATransferee leaving group after replacing transferor as party to derivative contract
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F130B
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F130C
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F130D
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F130E
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F130F
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F130G
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F130H
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F130I
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F131Derivative contracts with non-residents
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F131AAmounts imputed under Schedule 28AA to the Taxes Act 1988
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F1Part 7Collective investment schemes
F132Authorised unit trusts: capital profits and losses
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F133Open-ended investment companies: capital profits and losses
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F134Power to amend paragraphs 32 and 33
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F135Distributing offshore funds
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F136Contracts relating to holdings in unit trust schemes, open-ended investment companies and offshore funds
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F137Contract which becomes contract to which paragraph 36 applies
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F138Investment trusts: capital profits, gains or losses
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F138AVenture capital trusts: capital profits, gains or losses
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F139Investment trusts: approval for purposes of section 842 of the Taxes Act 1988
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F140Venture capital trusts: approval for purposes of section 842AA of the Taxes Act 1988
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F1Part 8Insurance and mutual trading companies
F141Application of Schedule to insurance and mutual trading companies
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F141AApplication of section 103(3)(c) of the Finance Act 1996
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F142...
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F143
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F143Mutual trading and non-life mutual business
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F1Part 9Miscellaneous
F143AContracts which become derivative contracts
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F143BContracts which cease to be derivative contracts
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F144
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F145
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F145ADerivative contracts which are to be taxed on a chargeable gains basis
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F145BCarry back of net losses on derivative contracts to which paragraph 45A applies
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F145CDerivative contracts relating to land or certain tangible movable property
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F145DCreditor relationships: embedded derivatives which are options
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F145EExclusions from paragraph 45D
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F145FCreditor relationships: embedded derivatives which are exactly tracking contracts for differences
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F145FACreditor relationships: existing assets
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F145GProperty based total return swaps
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F145HTreatment of net gains and losses on terminal exercise of option
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F145HZATreatment of net gains and losses on disposal of certain embedded derivatives
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F145HA Treatment of credits and debits on terminal exercise of non-embedded option or running to delivery of future
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F145H
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F145IIndex-linked gilt-edged securities with embedded contracts for differences
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F145JIssuers of securities with embedded derivatives: deemed options
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F145JAIssuers of securities with embedded derivatives: equity instruments
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F145KIssuers of securities with embedded derivatives: deemed contracts for differences
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F145KASecurities with embedded options: existing liabilities
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F145LDerivatives not embedded in a loan relationship
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F145LAElections under paragraph 45L(2A): further provisions
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F145MTreatment of host contract as a loan relationship
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F146Contracts where part of underlying subject matter of excluded type
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F147
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F148
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F148A
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F149Partnerships involving companies
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F150Partnerships involving companies: use of fair value accounting
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F150AAdjustment on company changing to international accounting standards
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F151Prevention of deduction of tax
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F1Part 10Interpretation
F152Statutory accounts
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F153Derivative and relevant contracts of person
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F154General interpretation
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Sch. 26 repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 543, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)