SCHEDULES

SCHEDULE 13Employer asset-backed pension contributions etc

PART 5Other provision relating to finance arrangements

Chapter 5B of Part 13 of ITA 2007

32

Chapter 5B of Part 13 of ITA 2007 (finance arrangements) is amended as follows.

33

In section 809BZA (type 1 finance arrangements: definition) after subsection (2) insert—

“(2A)

For the purposes of subsection (2)(c) it does not matter if an entitlement of the lender or a person connected with the lender is subject to any condition.”

34

(1)

Section 809BZF (type 2 finance arrangements: definition) is amended as follows.

(2)

In subsection (2)(b) after “transferor” insert “ or a person connected with the transferor ”.

(3)

After subsection (2) insert—

“(2A)

For the purposes of subsection (2)(e) it does not matter if any determination of the share in the partnership's profits of the person involved in the relevant change as mentioned is subject to any condition.”

35

In section 809BZH (type 2 finance arrangements: certain tax consequences not to have effect) after “transferor” (wherever occurring) insert “ or the person connected with the transferor ”.

36

In section 809BZJ (type 3 finance arrangements: definition) after subsection (2) insert—

“(2A)

For the purposes of subsection (2)(d) it does not matter if any determination of the share in the partnership's profits of the person involved in the relevant change as mentioned is subject to any condition.”