SCHEDULE 7Alternative property finance relief

PART 5Interpretation

Interpretation

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(1)

In this schedule “financial institution” has the meaning given by section 564B of the Income Tax Act 2007 (c.3).

(2)

For this purpose section 564B(1) applies as if paragraph (d) were omitted.

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In this schedule—

“arrangements” includes any agreement, understanding, scheme, transaction or series of transactions (whether or not legally enforceable),

references to a person are to be read, in relation to times after the death of the person concerned, as references to the person's personal representatives.