SCHEDULES
SCHEDULE 26 Transfers: tax
Part III Transfers from BR to SRA
Chargeable gains: disposal of debts
12
1
Sub-paragraph (2) applies if in the case of a relevant transfer—
a
a debt owed to the transferor is transferred to the transferee, and
b
the transferor would, apart from this paragraph, be the original creditor in relation to that debt for the purposes of section 251 of the 1992 Act (disposal of debts).
2
The 1992 Act is to have effect as if the transferee (and not the transferor) were the original creditor for those purposes.