# Finance (No. 2) Act 2023, Section 176A: Meaning of “non-marketable transferable tax credits”


(1) Sections 176B and 176C make provision about “non-marketable transferable tax credits”.
(2) A tax credit held by a member of a multinational group that is the originator of the credit is a non-marketable transferable tax credit if—
(a) it may be transferred to another person or entity, and
(b) it is neither a marketable transferable tax credit nor a qualifying refundable tax credit.
(3) A tax credit held by a member of a multinational group as a purchaser of the credit is a non-marketable transferable tax credit if it is neither a marketable transferable tax credit nor a qualifying refundable tax credit.
(4) In this section and in sections 176B and 176C “originator” and “purchaser” are to be construed in accordance with section 148A(1)(a).

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Source: https://www.legislation.gov.uk/ukpga/2023/30/section/176A (the official version)
Page: https://openlegislation.uk/finance-no-2-act-2023/section-176A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.