# The Corporation Tax Act 2010 (Part 8C) (Amendment) Regulations 2017, Regulation 10: Transfer of rights


In section 357YM (assignment of rights to person not chargeable to corporation tax)—
(a) in subsection (1), for paragraph (a) substitute—
“(a) a chargeable company (“the transferor”) transfers to a person who either—
(i) is not a company, or
(ii) is a non-qualifying company,
a right in respect of a claim, or possible claim, for restitution,”,
(b) in subsection (3), for “is not within the charge to corporation tax under this Part” substitute
“either—
(a) is not a company, or
(b) is a non-qualifying company.”, and
(c) for subsection (5) substitute—
“(5) For the purposes of this section a company is a “chargeable company” if it meets the first and second conditions.
The first condition is that the company is UK resident or carries on a trade in the United Kingdom through a permanent establishment in the United Kingdom.
The second condition is that the company is not a charitable company and would not be exempt from corporation tax on restitution interest (were such interest to arise to it).
(5A) For the purposes of this section a company is a “non-qualifying company” if—
(a) it is non-UK resident, or
(b) it is a charitable company, or would be exempt from corporation tax on restitution interest (were such interest to arise to it).”.

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Source: https://www.legislation.gov.uk/uksi/2017/364/regulation/10 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2010-part-8c-amendment-regulations-2017/regulation-10
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.