F1Part 10AAlternative finance arrangements
F3Arrangements that are alternative finance arrangements
S. 564C and cross-heading inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 4 (with Sch. 9 paras. 1-9, 22)
564EF2Deposit arrangements
1
This section applies to arrangements if under them—
a
a person (“the depositor”) deposits money with a financial institution,
b
the money, together with money deposited with the institution by other persons, is used by it with a view to producing a profit,
c
from time to time the institution makes or credits a payment to the depositor out of profit resulting from the use of the money,
d
the payment is in proportion to the amount deposited by the depositor, and
e
the payments so made or credited by the institution equate, in substance, to the return on an investment of money at interest.
2
This section is subject to section 564H (provision not at arm's length: exclusion of arrangements from sections 564C and 564D, this section and sections 564F and 564G).
Pt. 10A inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 2 (with Sch. 9 paras. 1-9, 22)