Foreign currency

30/05/1988

Query

Whether profit or loss arising on the disposal of foreign currency under a hedging contract linked to Section 44 securities is exempt from CGT by virtue of Section 607

Decision

no, the Sec. 44 securities and the foreign currency are separate assets.

Corporation Tax

Section 44, Taxes Consolidation Act, 1997

Origin: RLS Division

File ref:CTF377




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