SCHEDULES
SCHEDULE 12Disguised interest
18Commencement and transitional provision
1
Subject to sub-paragraph (2), the amendments made by this Schedule have effect for the tax year 2013-2014 and subsequent tax years.
2
Chapter 2A of Part 4 of ITTOIA 2005 does not apply in relation to an arrangement that produces a return for a person, in relation to an amount, which is economically equivalent to interest if—
a
the person became party to the arrangement before 6 April 2013, and
b
none of the provisions repealed by paragraphs 13(2) and 15(2) applied in relation to the arrangement before that date.