Taxation (International and Other Provisions) Act 2010 section Schedule 9 paragraph 37

Alternative finance arrangements entered into before certain dates etc.

Schedule 9 paragraph 37 sets out transitional rules governing when the alternative finance tax provisions apply, depending on the type of arrangement and the date it was entered into.

• Purchase and resale arrangements entered into before 6 April 2005, and diminishing shared ownership arrangements entered into before their relevant date, fall entirely outside the alternative finance rules.
• Deposit arrangements, profit share agency arrangements, and investment bond arrangements entered into before their relevant date are only brought within the rules if alternative finance return becomes payable on or after that date, with separate application rules for individuals and companies.
• For income tax and capital gains tax purposes, the disposal after 6 April 2007 of investment bond arrangements is treated as if the relevant provisions had always been in force, regardless of when the arrangements were entered into.
• Each type of arrangement has its own "relevant date" — for example, 6 April 2005 for deposits, 6 April 2006 for diminishing shared ownership and profit share agency arrangements, and 1 April 2007 (corporation tax) or 6 April 2007 (income tax and capital gains tax) for investment bonds.