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HMRC internal manual

Community investment tax relief manual

From
HM Revenue & Customs
Updated
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Alternative finance arrangements (AFAs): Modifying the CITR rules to accommodate AFAs - FA05/s49 arrangements

Where an arrangement falls within FA05/s49, the following table shows how the CITR rules are modified to equate aspects of conventional loans with those of FA05/s49 arrangements.

Conventional Loan FA05/s49 arrangement
Amount of loan Amount of money deposited
Loan being drawn down over a period of time Depositing money in instalments
Date a loan is first drawn down Date the first instalment is deposited
Amount drawn down Value of instalments deposited
Capital outstanding Balance of repayable deposit
Repayment Any repayment of the deposit
Beneficial owner of the loan Person beneficially entitled to repayment of the deposit
Disposal of all or part of a loan Disposal of the right to receive all or part of the deposit