Introduction Overview Overview Section 760: Payments treated as borrower’s income
2305.This section treats the payments mentioned in section 758(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.
2306.Under subsection (1), this section only applies if:
	there is a type 1 finance arrangement;
	section 759(2) and the corresponding income tax provision do not stop this arrangement having the relevant effect because it would not have the relevant effect in the first place; and
	the borrower is either (a) a company within the charge to corporation tax or (b) a partnership at least one member of which is a company within the charge to corporation tax.