Corporation Tax Act 2009 (c. 4)

Part 6 U.K. Relationships treated as loan relationships etc

[F1 Chapter 2B U.K. Transferred income streams

Textual Amendments

F1 Pt. 6 Ch. 2B inserted (with effect in accordance with Sch. 25 para. 10 of the amending Act) by Finance Act 2009 (c. 10), Sch. 25 para. 8(3)

486G Consideration to be treated as loan relationship U.K.

(1) For the purposes of this Part—

(a) the consideration for the transfer of the right to relevant receipts is to be treated as a money debt which is owed to the transferee by the person by whom the relevant receipts fall to be paid, and

(b) the transfer is to be treated as a transaction for the lending of money from which that debt is treated as arising.

(2) For the meaning of “relevant receipts” see [F2 section 752(2) of CTA 2010] or section 809AZA(2) of ITA 2007.]

Textual Amendments

F2 Words in s. 486G(2) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 626 (with Sch. 2)