C1Part 7Community investment tax relief

Annotations:
Modifications etc. (not altering text)
C1

Pt. 7 modified by 2005 c. 7, s. 54A (as inserted (10.7.2008) by The Alternative Finance Arrangements (Community Investment Tax Relief) Order 2008 (S.I. 2008/1821), arts. 1, 2)

Chapter 6Withdrawal or reduction of CITR

Introduction

359Overview of Chapter

1

This Chapter provides for CITR to be withdrawn or reduced under—

a

section 360 (disposal of loan during 5 year period),

b

section 361 (disposal of securities or shares during 5 year period),

c

section 362 (repayment of loan capital during 5 year period),

d

section 363 (value received by investor during 6 year period: loans),

e

section 364 (value received by investor during 6 year period: securities or shares),

f

section 371 (CITR subsequently found not to have been due).

2

This Chapter also provides for the manner in which CITR is to be withdrawn or reduced (see section 372).

3

In this Chapter “the 6 year period” in relation to the investment is the period of 6 years beginning 12 months before the investment date.