Section 809BZC: Payments treated as borrower’s income
1126.This section treats the payments mentioned in section 809BZA(2)(c) as income of the borrower. It is based on sections 774A(4), 774B(1) and (1B) to (3) and 774G(2) of ICTA.
1127.Under subsection (1), this section only applies if:
	there is a type 1 finance arrangement;
	section 809BZB(2) and the corresponding corporation tax provision do not stop this arrangement having the relevant effect; and
	the borrower is either (a) within the charge to income tax or (b) a partnership at least one member of which is within the charge to income tax.