Introduction Overview
2278.This Part rewrites sections 774A to 774G and 786 of ICTA (for the purposes of corporation tax) and paragraphs 1 to 6 of Schedule 25 to FA 2009.
2279.Chapter 1 of this Part (transfers of income streams) is based on paragraphs 1 to 6 of Schedule 25 to FA 2009. Chapter 2 of this Part (finance arrangements) is based on sections 774A to 774G of ICTA. Chapter 3 of this Part (loan or credit transactions) is based on section 786 of ICTA.
2280.Paragraph 7 of Schedule 25 to FA 2009 inserted Chapter 5A of Part 13 of ITA, which makes provision for income tax corresponding to Chapter 1 of this Part. Sections 774A to 774G and 786 of ICTA are rewritten for income tax purposes in Chapters 5B and 5C of Part 13 of ITA. These Chapters are inserted by Schedule 5 to TIOPA. See the commentary on that Schedule.