SCHEDULES

SCHEDULE 8Minor and consequential amendments

Part 10Factoring of income etc

Taxation of Chargeable Gains Act 1992 (c. 12)

267

TCGA 1992 is amended as follows.

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 ”.