SCHEDULES

SCHEDULE 15 U.K. Tax treatment of financing costs and income

Modifications etc. (not altering text)

C1 Sch. 15 modified (21.7.2009 retrospective) by Finance (No. 3) Act 2010 (c. 33), Sch. 5 para. 36(2)

Part 2 U.K. Application of this Schedule

Relevant dealing in financial instruments U.K.

11 (1) In this Part “financial instrument” means anything that is a financial instrument for any purpose of the FSA Handbook. U.K.

(2) For the purposes of this Part, a dealing in a financial instrument is a “relevant dealing” if—

(a) it is a dealing other than in the capacity of a broker, and

(b) profits or losses on the dealing form part of the trading profits or losses of a business.

(3) In this paragraph “broker” includes any person offering to sell securities to, or purchase securities from, members of the public generally.