SolvedTSEM3235 | Capital items that are income for tax purposes: futures and options
From HM Revenue & Customs · Trusts, Settlements and Estates Manual
ITTOIA/S555
Profits and gains arising on the disposal of a future or an option are chargeable to income tax at the trust rate.
An option is a conditional agreement between the grantor and purchaser to buy (call option) or sell (put option) a specified quantity of something such as shares or currency at a fixed price.
A future is a contract for the future delivery of commodities, shares, securities, foreign currency or other financial instruments at a pre-arranged price.