Income Tax Act 2007 (c. 3)

[F1 PART 5B U.K. Tax relief for social investments

Textual Amendments

F1 Pt. 5B inserted (17.7.2014) by Finance Act 2014 (c. 26), Sch. 11 para. 1

CHAPTER 6 U.K. Claims for relief

257P Time for making claims for SI relief U.K.

(1) A claim for SI relief in respect of the amount invested may be made—

(a) not earlier than the time the requirement in section 257MM(2) (chosen trade must have been carried on for 4 months) is first met, and

(b) not later than the fifth anniversary of the normal self-assessment filing date for the tax year in which the investment is made.

(2) If the social enterprise is an accredited social impact contractor, subsection (1) applies with the omission of its paragraph (a).

(3) If section 257JA(1) and (2) apply as if part of the amount invested had been invested in a previous tax year, subsection (1) has effect as if that part and the remainder had been invested by separate investments (and that part had been invested by an investment made on a day in the previous tax year).]

Modifications etc. (not altering text)

C1 S. 257P(1) applied (with modifications) by 1992 c. 12, Sch. 8B para. 8(1) (as inserted (17.7.2014) by Finance Act 2014 (c. 26), Sch. 12 para. 3)