# Taxation (International and Other Provisions) Act 2010, Paragraph 11


After section 564I insert—
“Purchase and resale arrangements where return in foreign currency
564J (1) If, in the case of purchase and resale arrangements, alternative finance return is paid in a currency other than sterling—
(a) by or to a person other than a company, and
(b) otherwise than for the purposes of a trade, profession or vocation or a property business,
subsections (2) and (3) apply as respects that person.
(2) The amount of the excess referred to in section 564I(2) and (5)(b) and the appropriate amount for the purposes of section 564I(3) and (4) are to be calculated in that other currency.
(3) The amount of each payment of alternative finance return is to be translated into sterling at a spot rate of exchange for the day on which the payment is made.”

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Source: https://www.legislation.gov.uk/ukpga/2010/8/schedule/2/paragraph/11 (the official version)
Page: https://openlegislation.uk/taxation-international-and-other-provisions-act-2010/schedule-2/paragraph-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.