Part 2Income tax, corporation tax and capital gains tax_general
Charities etc
54Community investment tax relief
1
Paragraph 35 of Schedule 16 to FA 2002 (community investment tax relief) is amended as follows.
2
After sub-paragraph (1) insert—
1A
But if the investor is a bank, the investor does not receive value from the CDFI when the CDFI makes a deposit with the investor in the course of its ordinary banking arrangements.
3
In subsection (5), after “paragraph—” insert—
“bank” has the meaning given by section 840A of the Taxes Act 1988;
4
The amendments made by this section are treated as always having had effect.