Part 7Community investment tax relief
Chapter 5Withdrawal or reduction of CITR
Receipts of value
250The amount of value received
1
In a case falling within a provision listed in column 1 of the following table, the amount of value received for the purposes of this Chapter is given by the corresponding entry in column 2 of the table.
Provision | The amount of value received |
|---|---|
Section 249(1)(a) | The amount received by the investor |
Section 249(1)(b) | The amount of the liability |
Section 249(1)(c) | The amount of the loan or advance, less the amount of any repayment made before the investment is made |
Section 249(1)(d)(i) | The cost to the CDFI of providing the benefit or facility, less any consideration given for it by the investor or any associate of the investor |
Section 249(1)(d)(ii) | The cost to the CDFI of providing the benefit or facility, less any consideration given for it by the investor or any associate of the investor or by a person within subsection (2) |
Section 249(1)(e) or (f) | The difference between the market value of the asset and the consideration (if any) received for it |
Section 249(1)(g) | The amount of the payment |
2
The persons within this subsection are—
a
in a case where the benefit or facility was provided to a director or employee, the director or employee or any associate of the director or employee, and
b
in a case where the benefit or facility was provided to an associate of a director or employee, the associate or the director or employee.