Part 6Relationships treated as loan relationships etc

F1Chapter 2BTransferred income streams

486GConsideration to be treated as loan relationship

(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 F2section 752(2) of CTA 2010 or section 809AZA(2) of ITA 2007.