C1Part IV Shares, securities, options etc.
C2F1Chapter 4Alternative finance arrangements
Pt. 4 Ch. 4 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. 28 (with Sch. 9 paras. 1-9, 22)
Pt. 4 Ch. 4 applied (with modifications) (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. 9 para. 40 (with Sch. 9 paras. 1-9, 22)
F3Meaning of “alternative finance return”
S. 151P 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. 36 (with Sch. 9 paras. 1-9, 22)
151QF2Purchase and resale arrangements where return in foreign currency
1
If, in the case of purchase and resale arrangements, alternative finance return is paid in a currency other than sterling—
a
by or to a person other than a company, and
b
otherwise than for the purposes of a trade, profession or vocation or a property business,
subsections (2) and (3) apply as respects that person.
2
The amount of the excess referred to in section 151P(2) and (5)(b) and the appropriate amount for the purposes of section 151P(3) and (4) are to be calculated in that other currency.
3
The amount of each payment of alternative finance return is to be translated into sterling at a spot rate of exchange for the day on which the payment is made.
Pt. IV: power to modify conferred (7.4.2005) by Finance Act 2005 (c. 7), s. 21(8)-(10)