CFM80030 - Old rules: derivative contracts: quick guide to converting from FA 2002 to CTA 2009
Converting from FA 2002 to CTA 2009
»Ê¹ÚÌåÓýapp table below may be helpful to those already familiar with the derivative contracts legislation in FA02/SCH26. It is not intended to replace the tables of origins and destinations in CTA09, but provides a quick guide to the locations of legislation and guidance on the main derivative contracts topics. CFM cross-references are to the first (or only) page of relevant guidance.
| Subject | FA02/SCH26 | CTA 2009 | Reference |
|---|---|---|---|
| Exclusivity of derivative contracts | Para 1 | 699 | CFM50060 |
| Definition of relevant contract, including meaning of future, option and contract for differences | Para 2, para 12 | 576 - 578, 580 - 582 | CFM50310 |
| Relevant contracts within loan relationships, non-financial contracts and ‘hybrid derivatives� | Paras 2, 2A, 2B | 584 - 586 | CFM50410 |
| Meaning of derivative contract - accounting test | Para 3 | 579 | CFM50220 |
| Underlying subject matter - excluded contracts, and meaning of USM, splitting contracts | Paras 4, 9, 11, 46 | 589 - 593, 583 | CFM50500, and CFM50700 for contracts over shares |
| Former chargeable assets becoming derivative contracts | Paras 4A, 4B, 4C | Paras 92, 93 Sch 2 | CFM50850 |
| Qualified exclusions | Paras 5 - 8, para 21: now repealed | Ìý | CFM83090 |
| Bringing profits and losses into account | Para 14 | 572 - 574 | CFM51020 |
| Basic computational rules | Paras 15, 16, 17A, 17B, 17C, 22 | 594 - 599, 606 | CFM51040 |
| Deemed assignment on company migration | Para 22A | 609 - 610 | CFM53100 |
| Unallowable purposes | Paras 23, 24 | 690 - 692 | CFM56010 |
| Capitalised amounts | Para 25 | 604 | CFM52040 |
| Credits or debits in equity | Para 25A | 605 | CFM52050 |
| Transfers of value to connected companies | Para 26 | 695 | CFM56070 |
| Non arm’s length contracts | Para 27, 31A | 693 - 694 | CFM56050 |
| Disposals for consideration not fully recognised | Para 27A | 698 | CFM56110 |
| Group continuity | Paras 28, 29, 30, 30A | 625 - 632 | CFM53010 |
| European cross-border mergers etc | Para 30B - 30H | 674 - 688 | CFM53120 |
| Anti-avoidance: contracts with non-residents | Para 31 | 696 | CFM56090 |
| Collective investment schemes | Paras 34 - 39 | 587, 601, 602, 660, 637, 638 | CFM54030 |
| Contracts becoming or ceasing to be derivative contracts | Paras 43A, 43B | 661, 662 | CFM50820 |
| Annual capital gains on certain derivatives | Paras 45A, 45B | 641, 642, 663, 664 | CFM55030 |
| Property derivatives | Paras 45C, 45G | 643, 644, 650, 659 | CFM55080 |
| Convertible securities - holders | Paras 45D, 45H | 645 - 647 | CFM55210 |
| Share-linked securities - holders | Para 45F, 45HZA | 648, 649 | CFM55290 |
| Options or futures resulting in delivery of shares | Para 45HA | 667, 668 | CFM55130 |
| Index-linked gilts | Para 45I | 623 | CFM52590 |
| Convertible securities - issuers | Paras 45J, 45JA | 652 - 655, 665, 666, para 94 Sch 2 | CFM55410 |
| Share-linked securities - issuers | Paras 45K, 45KA | 657 - 658, para 88 Sch 2 | CFM55470 |
| Derivatives embedded in non-loan contracts | Paras 45L, 45LA | 616 - 618 | CFM52520 |
| Pre-paid futures | Para 45M | 592 | CFM52580 |
| Partnerships | Paras 49, 50 | 619 - 621 | CFM52710 |
| Adjustments on changes of accounting policy | Para 50A | 613 - 615 | CFM52030 |