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HMRC internal manual

Community investment tax relief manual

From
HM Revenue & Customs
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Alternative finance arrangements (AFAs): Modifying the CITR rules to accommodate AFAs - FA05/s49A arrangements

Where an arrangement falls within FA05/s49A, the following table shows how the CITR rules are modified to equate aspects of conventional loans with those of FA05/s49A arrangements.

Conventional Loan FA05/s49A arrangement
Amount of loan Amount of money provided by principal to agent
Loan being drawn down over a period of time Principal providing money to agent in instalments
Date a loan is first drawn down Date the first instalment is provided to the agent
Amount drawn down Value of instalments provided to the agent
Capital outstanding Balance of repayable money provided to the agent
Repayment Any repayment of money provided to the agent
Beneficial owner of the loan Person beneficially entitled to repayment of money provided to the agent
Disposal of all or part of a loan Disposal of the right to receive all or part of money provided to the agent