Part IV Income Tax, Corporation Tax and Capital Gains Tax
C1C2C3C4Chapter II Interest Rate and Currency Contracts
Pt. IV Chapter II (ss. 147-177) applied (29.4.1996 with effect as mentioned in s. 105(1) of the applying Act) by 1996 c. 8, s. 105, Sch. 15 para. 25(4) (with savings etc. in Pt. IV Chapter II (ss. 80-105))
Pt. IV Chapter II (ss. 147-177) modified (29.4.1996 with effect as mentioned in s. 105(1) of the modifying Act) by 1996 c. 8, s. 105, Sch. 15 para. 25(2) (with savings etc. in Pt. IV Chapter II (ss. 80-105))
Pt. IV Chapter II (ss. 147-177) excluded (29.4.1996 with effect as mentioned in s. 105(1) of the excluding Act) by 1996 c. 8, s. 101(1) (with savings etc. in Pt. IV Chapter II (ss. 80-105))
Qualifying contracts
147 Qualifying contracts.
F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
147A Debt contracts and options to be qualifying contracts.
F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
148 Contracts which may become qualifying contracts.
F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Interest rate and currency contracts and options
149 Interest rate contracts and options.
F4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
150 Currency contracts and options.
F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
150A Debt contracts and options.
F6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
151 Provisions which may be included.
F7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
152 Provisions which may be disregarded.
F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Other basic definitions
153 Qualifying payments.
F9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
154 Qualifying companies.
F10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Accrual of profits and losses
155 Accrual of profits and losses.
F11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
156 Basis of accounting: general.
F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
157 Basis of accounting for linked currency options.
F13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
158 Adjustments for changes in basis of accounting.
F14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Treatment of profits and losses
159 Trading profits and losses.
F15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
160 Non-trading profits and losses.
F16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Special cases
C5161 Termination etc. of qualifying contracts.
F17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
C5162 Exchange gains and losses on currency contracts.
F18. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
C5163 Irrecoverable payments.
F19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
C5164 Released payments.
F20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Miscellaneous
169 Insurance and mutual trading companies.
F26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
170 Investment trusts.
F27. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F28171. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
172 Partnerships involving qualifying companies.
F29. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Supplemental
173 Prevention of double charging etc.
F30. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
174 Prevention of deduction of tax.
F31. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
175 Transitional provisions.
F32. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
176 Minor and consequential amendments.
F331
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F352
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
177 Interpretation of Chapter II.
F34. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Pt. IV Chapter II (ss. 147-177) restricted (31.7.1998) by 1988 c. 1, Sch. 28AA para. 8(1)(b) (as inserted (31.7.1998) by 1998 c. 36, s. 108, Sch. 16)