Part 16 Factoring of income etc

Chapter 1 Transfers of income streams

757 Interpretation of Chapter
(1) For the purposes of this Chapter—
(a) the grant or surrender of a lease of land is to be regarded as a transfer of the land,
(b) the disposal of an interest in an oil licence (within the meaning of section 809 of CTA 2009) is to be regarded as a transfer of the oil licence, and
(c) the grant or disposal of an interest in intellectual property (within the meaning of section 712(3) of CTA 2009) which constitutes a pre-FA 2002 asset (within the meaning of section 881 of that Act) is to be regarded as a transfer of that intellectual property.
(2) The Treasury may by order make other provision for securing that other transactions are to be regarded as transfers of assets for those purposes.
(3) In this Chapter—
(a) references to a transfer include sale, exchange, gift and assignment and any other arrangement which equates in substance to a transfer, and
(b) references to a transfer taking place are, in the case of an arrangement other than a sale, exchange, gift or assignment, to the making of the arrangement.
(4) A transfer to or by any partnership of which the transferor or transferee is a member, and a transfer to the trustees of any trust of which the transferor is a beneficiary, counts as a transfer in relation to which this Chapter applies.