Part 10 Factoring of Income etc
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

Part 10 Factoring of Income etc

Income and Corporation Taxes Act 1988 (c 1)

264

ICTA is amended as follows.

265

Omit sections 774A to 774G (factoring of income receipts etc).

266

Omit section 786 (transactions associated with loans or credit).

Taxation of Chargeable Gains Act 1992 (c 12)

267

TCGA 1992 is amended as follows.

268

(1)     Amend section 263E (structured finance arrangements) as follows.

(2)     In subsection (1)(a) for “section 774B of the Taxes Act†substitute “section 809BZB or 809BZC of ITA 2007â€.

(3)     In subsection (6) in the definition of “the borrower†for “section 774A of the Taxes Act†substitute “the defining sectionâ€.

(4)     In subsection (6) after the definition of “the borrower†insert—

“â€the defining section†in relation to a structured finance arrangement—

(a)     means section 809BZA of ITA 2007 if it is section 809BZB

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