[F1564K Diminishing shared ownership arrangementsU.K.
(1)In the case of diminishing shared ownership arrangements, payments by [F2the customer] under the arrangements are alternative finance return for the purposes of this Part, except so far as subsection (2) or (3) applies to them.
(2)This subsection applies to the payments so far as they amount to payments of the kind described in section 564D(1)(c) [F3or 564DA(1)(d) or (2)(c)] (payments to be made by [F2the customer] to [F4the financier], amounting to the consideration paid for the acquisition of [F5the financier’s] beneficial interest).
(3)This subsection applies to the payments so far as they amount to payments in respect of any arrangement fee or legal or other expenses which [F2the customer] is required under the arrangements to pay.
(4)In this section “[F2the customer]” has the same meaning as in section 564D [F6or 564DA].]
Textual Amendments
F1S. 564K 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. 12 (with Sch. 9 paras. 1-9, 22)
F2Words in s. 564K substituted (with effect in accordance with Sch. 7 para. 4 of the amending Act) by Finance Act 2025 (c. 8), Sch. 7 paras. 1(5)(a), 4
F3Words in s. 564K(2) inserted (with effect in accordance with Sch. 7 para. 4 of the amending Act) by Finance Act 2025 (c. 8), Sch. 7 paras. 1(5)(b)(i), 4
F4Words in s. 564K(2) substituted (with effect in accordance with Sch. 7 para. 4 of the amending Act) by Finance Act 2025 (c. 8), Sch. 7 paras. 1(5)(b)(ii), 4
F5Words in s. 564K(2) substituted (with effect in accordance with Sch. 7 para. 4 of the amending Act) by Finance Act 2025 (c. 8), Sch. 7 paras. 1(5)(b)(iii), 4
F6Words in s. 564K(4) inserted (with effect in accordance with Sch. 7 para. 4 of the amending Act) by Finance Act 2025 (c. 8), Sch. 7 paras. 1(5)(c), 4