SCHEDULE 1Meaning of owner-occupier payments
PART 2UC claimants
Application of Part 24
This Part applies to UC claimants.
Payments of interest on loans and alternative finance payments5
1
“Owner-occupier payments” means—
a
payments of interest on a loan which qualifies under sub-paragraph (2);
b
alternative finance payments within the meaning of sub-paragraph (3).
2
A loan qualifies under this sub-paragraph if it is secured on the relevant accommodation.
3
“Alternative finance payments” means payments that are made under alternative finance arrangements which were entered into to enable a person to acquire an interest in the relevant accommodation.
4
“Alternative finance arrangements” has the meaning given in Part 10A of the Income Tax Act 200783.