{
  "url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-779",
  "json_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-779.json",
  "legislation": "ukpga/2005/5",
  "legislation_title": "Income Tax (Trading and Other Income) Act 2005",
  "legislation_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005",
  "path": "section/779",
  "kind": "section",
  "number": "779",
  "heading": "Gains on commodity and financial futures",
  "text": "(1) No liability to income tax arises as a result of Chapter 8 of Part 5 (income not otherwise charged) in respect of a gain arising to a person in the course of dealing in—\n(a) commodity or financial futures,\n(b) traded options, or\n(c) financial options.\n(2) The reference in subsection (1) to a gain arising in the course of dealing in commodity or financial futures includes a gain regarded as so arising under section 143(3) of TCGA 1992 (gains arising from transactions otherwise than in the course of dealing on a recognised futures exchange, involving authorised persons).\n(3) In this section—\n“commodity or financial futures” means commodity futures or financial futures that are for the time being dealt in on a recognised futures exchange,\n“financial option” has the meaning given by section 144(8)(c) of TCGA 1992, and\n“traded option” has the meaning given by section 144(8)(b) of that Act.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2005/5/section/779",
    "retrieved_at": "2026-10-29T09:16:32.370392+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}