CITM4350 - 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 |
