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Section 146: Options: application of rules as to wasting assets.

Taxation of Chargeable Gains Act 1992 · 1992 c. 12View on legislation.gov.uk

Part IV: Shares, securities, options etc. — Chapter III: Miscellaneous provisions relating to commodities, futures, options and other securities

Section 46 shall not apply—

to a quoted option to subscribe for shares in a company, or
to a traded option, or financial option, or
to an option to acquire assets exercisable by a person intending to use them, if acquired, for the purpose of a trade carried on by him.

The preceding provisions of this section are without prejudice to the application of sections 44 to 47 to options not within those provisions.

In this section—

"financial option", "quoted option" and "traded option" have the meanings given by section 144(8), and
"quoted shares or securities" means shares or securities which are listed on a recognised stock exchange ... .

About this text

This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.