SCHEDULES

SCHEDULE 8Minor and consequential amendments

Part 10Factoring of income etc

Taxation of Chargeable Gains Act 1992 (c. 12)

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 2007”.

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

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

• ““the defining section” in relation to a structured finance arrangement—

  (a)

  means section 809BZA of ITA 2007 if it is section 809BZB or 809BZC of ITA 2007 that applies in relation to the arrangement, and

  (b)

  means section 758 of CTA 2010 if it is section 759 or 760 of CTA 2010 that applies in relation to the arrangement,”.

(5)In subsection (6) in the definition of “the lender” for “that section” substitute “the defining section”.

(6)In subsection (6) in the definition of “security” for “subsection (2)(c) and (d) of that section” substitute “subsection (2)(b) and (c) of the defining section”.