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Section 55
1In this Schedule, “relevant arrangements” means—
(a)arrangements falling within section 47 under which the person referred to in that section as Y is a financial institution, or
(b)arrangements falling within section 49.
2In sections 17 and 18 of TMA 1970 (interest paid etc. without deduction of income tax), references to interest include references to alternative finance return or profit share return.
3Section 349 of ICTA (certain payments to be made subject to deduction of income tax) has effect in relation to alternative finance return or profit share return as it has effect in relation to interest.
4In section 468L of ICTA (interest distributions), in subsection (9)(a), the reference to money placed at interest includes a reference to money invested under relevant arrangements.
5Section 477A of ICTA (building societies: regulations for deduction of tax) applies in relation to alternative finance return and profit share return paid or credited under relevant arrangements as it applies in relation to interest paid or credited in respect of a deposit or loan.
6Sections 480A to 482 of ICTA (relevant deposits: deduction of tax from interest payments etc.) have effect as if—
(a)relevant arrangements were a deposit, and
(b)alternative finance return or profit share return payable under relevant arrangements were interest.
7In section 582 of ICTA (funding bonds) references to interest include references to alternative finance return or profit share return.
8Section 787 of ICTA (restriction of relief for payments of interest) has effect in relation to alternative finance return or profit share return as it has effect in relation to interest.
9In paragraph 8(2)(a) of Schedule 10 to FA 1996 (loan relationships: collective investment schemes), the reference to money placed at interest includes a reference to money invested under relevant arrangements.
10In section 380 of ITTOIA 2005 (funding bonds), references to interest include references to alternative finance return or profit share return.