http://www.legislation.gov.uk/uksi/2009/2568/contents/made

The Alternative Finance Arrangements (Amendment) Order 2009

Income tax

Corporation tax

Tax

Income

en

King's Printer of Acts of Parliament

2014-06-16

INCOME TAX

CORPORATION TAX

This Order amends Chapter 5 of Part 2 of the Finance Act 2005 (c. 7) and Chapter 6 of Part 6 of the Corporation Tax Act 2009 (c. 4). These provisions deal with alternative finance arrangements in the income tax and corporation tax codes respectively. Where certain conditions apply, these provisions allow for amounts paid or received under Shari’a-compliant financial arrangements, which do not involve interest, to be treated as interest for income tax purposes or as loan relationship debits and credits for corporation tax purposes.