Section 582 “Contract for differences”
United Kingdom
In this Part “contract for differences” means a contract the purpose or pretended purpose of which is to make a profit or avoid a loss by reference to fluctuations in—
the value or price of property described in the contract, or
an index or other factor designated in the contract.
F1and includes a contract which falls within section 6(2) of, or paragraph 1(1) of Schedule 2 to, the Energy Act 2013.
But none of the following is a contract for differences—
an option,
a future,
a contract of insurance,
a capital redemption policy,
a contract of indemnity,
a guarantee,
a warranty, or
a loan relationship.
For the purposes of subsection (1)(b), an index or factor may be determined by reference to any matter.
Annotations
Textual amendments
- F1
Words in s. 582(1) inserted (with effect in relation to accounting periods ending on or after 31.12.2013) by The Corporation Tax Act 2009, Section 582 (Contract for Differences) (Amendment) Order 2013 (S.I. 2013/3218), arts. 1, 2(2)
Notes on Part 7
Modifications
- C1
Pt. 7 modified (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 601, 1184(1) (with Sch. 2)
- C2
Pt. 7 modified (with effect in accordance with s. 148 of the amending Act) by Finance Act 2012 (c. 14), s. 88(1)(2)(7) (with s. 147, Sch. 17)
- C3
Pt. 7 modified by 2007 c. 3, s. 809FZZ(8) (as inserted (with effect in accordance with s. 37(4) of the amending Act) by Finance Act 2016 (c. 24), s. 37(2))
- C4
Pt. 7 modified (for the tax year 2026-27 and subsequent tax years (but in relation to investment management services whenever performed)) by 2005 c. 5, Sch. A1 para. 35(6) (as inserted by Finance Act 2026 (c. 11), s. 58(6), Sch. 11 para. 1)