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