SAIM7000 - Artificial transactions in futures and options: overview and contents (this guidance applies to disposals of futures and options before 6 April 2013)

Overview

This section of the Savings and Investment Manual explains the taxation of derivative contracts held by individuals and trusts to generate an interest-like return. It covers disposals of futures and options before 6 April 2013.

Contents

  1. SAIM7010
    Introduction
  2. SAIM7020
    Outline of the legislation
  3. SAIM7030
    Example of an artificial transaction
  4. SAIM7040
    Meaning of future or option
  5. SAIM7050
    When do disposals involve 'guaranteed returns'?
  6. SAIM7060
    What is a 'guaranteed return?
  7. SAIM7070
    The return from 'one or more disposals'
  8. SAIM7080
    When do disposals occur?
  9. SAIM7090
    Timing rules for options
  10. SAIM7100
    Deemed disposals where futures run to delivery or options are exercised
  11. SAIM7110
    Deemed disposals where futures run to delivery or options are exercised: example
  12. SAIM7120
    Losses
  13. SAIM7130
    Trustees
  14. SAIM7140
    Transfer of assets abroad