Taxation (International and Other Provisions) Act 2010 (c. 8)

SCHEDULES

SCHEDULE 2 U.K. Alternative finance arrangements

Part 3 U.K. Other amendments

Income and Corporation Taxes Act 1988 (c. 1) U.K.

47 U.K. After section 367 insert—

“367A Alternative finance arrangements

(1) Sections 353 and 365 have effect as if—

(a) purchase and resale arrangements involved the making of a loan, and

(b) alternative finance return were interest.

(2) Section 366 has effect accordingly.

(3) In this section—

• “alternative finance return” has the meaning given in sections 564I to 564L of ITA 2007, and

• “purchase and resale arrangements” means arrangements to which section 564C of ITA 2007 applies.”