Income Tax Act 2007 (c. 3)

[F1 Part 10A U.K. Alternative finance arrangements]

Textual Amendments

F1 Pt. 10A inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 2 (with Sch. 9 paras. 1-9, 22)

[F2 Treatment of alternative finance return as interest etc] U.K.

Textual Amendments

F2 S. 564M and cross-heading inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 14 (with Sch. 9 paras. 1-9, 22)

[F3 564N Alternative finance return under arrangements for trade or property business purposes U.K.

(1) This section applies so far as a person is a party to alternative finance arrangements for the purposes of—

(a) a trade, profession or vocation carried on by that person, or

(b) a property business of that person.

(2) Alternative finance return paid by that person is treated as an expense of the trade, profession, vocation or business.

(3) In section 58 of ITTOIA 2005—

(a) references to a loan include references to alternative finance arrangements, and

(b) references to interest include references to alternative finance return.]

Textual Amendments

F3 S. 564N inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 15 (with Sch. 9 paras. 1-9, 22)