SCHEDULES
SCHEDULE 16Community investment tax relief
Part 6Withdrawal of relief
27Manner of withdrawal of relief
1
This paragraph applies where any relief has been obtained which—
a
is subsequently found not to have been due, or
b
falls to be withdrawn or reduced under this Part.
2
Where the investor is an individual, the relief shall be withdrawn or reduced by making an assessment to income tax under Case VI of Schedule D for the tax year for which the relief was obtained.
3
No assessment shall be made under sub-paragraph (2) in respect of an individual by reason of any event occurring after his death.
4
Where the investor is a company, the relief shall be withdrawn or reduced by making an assessment to corporation tax under Case VI of Schedule D for the accounting period for which the relief was obtained.