SCHEDULES

SCHEDULE 8 U.K.Minor and consequential amendments

Part 10 U.K.Factoring of income etc

Income Tax (Trading and Other Income) Act 2005 (c. 5) U.K.

269 U.K.ITTOIA 2005 is amended as follows.

270 U.K.After section 281 insert—

“281A Sums to which sections 277 to 281 do not apply

(1) This section applies if a grant of a lease constitutes a disposal of an asset for the purposes of section 809BZA(2)(b) or 809BZF(2)(a) of ITA 2007 (disposals under finance arrangements).

(2) Sections 277 to 281 do not apply in relation to a premium paid in respect of the grant.”