Question: Many thanks for you answering my question under "Non Dom investing in overseas futures & claiming the remittance basis to reduce tax". This was most useful. I have a few follow up questions regarding this subject: 1. You point out that UK gilts are free of CGT anyway. So how is an UK Gilt Future traded on LIFFE (UK) likely to be treated? Is the Gilt future also free of CGT as Gilts are free? 2. In the 2005 Budget ( http://www.hmrc.gov.uk/budget2005/revbn26.htm ) new measures were proposed to provide more specific rules regarding the location of certain assets. Futures and options are discussed and the proposal states "The rule will not apply, however, in relation to options & futures which can be settled only in cash (such as financial futures over the FTSE 100 Index), rather than by delivery". Does this mean that cash settled FTSE 100 Futures are free from Capital Gains Tax? 3. If any of above Futures are free of CGT (BUT probably still seen as UK situated assets), could they be included in my overseas futures account free of CGT? . . . (to read the remainder of this article, please log in below.)
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