InterpretationU.K.
1(1)In this Schedule—U.K.
“alternative finance investment bond” means arrangements [F1to which section 564G of ITA 2007 or section 151N of TCGA 1992 (investment bond arrangements) applies ];
“bond assets”, “bond-holder”, “bond-issuer” and “capital” have the meaning given by that section;
“HMRC” means Her Majesty's Revenue and Customs;
“prescribed” means prescribed in regulations made by HMRC;
“qualifying interest” means a major interest in land (within the meaning given by section 117 of FA 2003) except that it does not include a lease if the lease is for—
(a)a term of years of 21 years or less, or
(b)in Scotland, a period of 21 years or less.
[F2(2)Section 564S of ITA 2007 (treatment of bond-holder and bond-issuer) applies for the purposes of any enactment about stamp duty land tax as it applies for the purposes of the Income Tax Acts.]
Textual Amendments
F1Words in Sch. 61 para. 1(1) substituted (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. 8 para. 229(2) (with Sch. 9 paras. 1-9, 22)
F2Sch. 61 para. 1(2) substituted (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. 8 para. 229(3) (with Sch. 9 paras. 1-9, 22)