# Income Tax Act 2007, Section 837D: Transfer of rights to payment


(1) This section applies if—
(a) the company or its liquidator transfers for value to another person the right to receive a sum arising from the deposit-taking trade, and
(b) the sum is one which, if received by the company or its liquidator, would be a winding up receipt.
(2) If the transfer is at arm's length, this Chapter has effect as if the amount or value of the consideration for the transfer were a winding up receipt arising from the deposit-taking trade.
(3) If the transfer is not at arm's length, this Chapter has effect as if the value of the right transferred as between parties at arm's length were a winding up receipt arising from the deposit-taking trade.

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Source: https://www.legislation.gov.uk/ukpga/2007/3/section/837D (the official version)
Page: https://openlegislation.uk/income-tax-act-2007/section-837D
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.