GIM9080 - Mutual insurance: tax treatment: accounting periods ending before 1 October 2002: financial instruments

Where any financial instruments such as interest rate, currency and debt contacts are held by a mutual general insurer, profits or losses on the contract are treated as non-trading.

They are given effect for tax purposes by being treated as non-trading credits and debits within the loan relationships legislation (FA94/SCH18/PARA3).