This section has no associated Explanatory Notes
15U.K.After section 564M insert—
“564NAlternative finance return under arrangements for trade or property business purposes
(1)This section applies so far as a person is a party to alternative finance arrangements for the purposes of—
(a)a trade, profession or vocation carried on by that person, or
(b)a property business of that person.
(2)Alternative finance return paid by that person is treated as an expense of the trade, profession, vocation or business.
(3)In section 58 of ITTOIA 2005—
(a)references to a loan include references to alternative finance arrangements, and
(b)references to interest include references to alternative finance return.”