Part 10 Alternative Finance Arrangements
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

Part 10 Alternative Finance Arrangements

Alternative finance arrangements entered into before certain dates etc

37

(1)     The alternative finance provisions do not apply to purchase and resale arrangements entered into before 6 April 2005 or diminishing shared ownership arrangements entered into before the relevant date.

(2)     If deposit arrangements, profit share agency arrangements or investment bond arrangements were entered into before the relevant date, the alternative finance provisions only apply if alternative finance return is payable under the arrangements on or after the relevant date and then—

(a)     apply for the purposes of income tax in relation to payments of alternative finance return under the arrangements to a person other than a company on or after the relevant date (so far as relevant to the tax year 2010–11 and subsequent tax years), and

(b)     if a company is a party to the arrangements, apply in relation to the company in respect of the arrangements with effect from the relevant date (so far as relevant to those tax years or, as the case may be, any accounting period ending on or after 1 April 2010).

(3)     Sub-paragraph (2)

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