CITM4360 - 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 |
