Taxation of Chargeable Gains Act 1992 section 148A

Futures and options involving guaranteed returns

Section 148A dealt with the tax treatment of futures and options that involved guaranteed returns, but has been removed from the legislation.

• Section 148A originally addressed the chargeable gains treatment of futures and options contracts where a guaranteed return was involved.
• The section was removed (omitted) from the Taxation of Chargeable Gains Act 1992 by the Finance Act 2013.
• The repeal took effect from the 2013–14 tax year onwards, meaning it has no application for that year or any subsequent tax year.
• Any transactions involving futures and options with guaranteed returns from 2013–14 onwards fall to be dealt with under other applicable provisions of the tax code.

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