C1Part 7Community investment tax relief
Annotations:
Modifications etc. (not altering text)
Chapter 6Withdrawal or reduction of CITR
Manner of withdrawal or reduction
372Manner of withdrawal or reduction of CITR
1
This section applies if any CITR has been obtained which falls to be withdrawn or reduced under this Chapter.
2
The CITR must be withdrawn or reduced by making an assessment to income tax for the tax year for which the CITR was obtained.
3
No assessment may be made under subsection (2) because of any event occurring after the death of the investor.
F14
An assessment under this paragraph may be made at any time not more than 6 years after the end of the tax year for which the relief was obtained.
5
Subsection (4) is without prejudice to section 36(1A) of TMA 1970 (loss of tax brought about deliberately etc).
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)