CITM4360 - Alternative Finance Arrangements: 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
|
