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

http://www.legislation.gov.uk/ukpga/2007/3/section/257SCIncome Tax Act 2007An Act to restate, with minor changes, certain enactments relating to income tax; and for connected purposes.texttext/xmlenStatute Law Database2026-07-21Expert Participation2026-07-15Income Tax Act 2007s. 788(7)Legal Services Act 2007Sch. 21 para. 161(b)s. 29192193s. 211(2)art. 2(h)PART 5BTax relief for social investmentsCHAPTER 8Withdrawal or reduction of SI relief: procedureAssessments and appeals
257SCCases where assessment not to be made(1)

No assessment for withdrawing or reducing SI relief in respect of the investment may be made because of an event occurring after the investor's death.

(2)

Subsection (3) applies if the investor has, by a disposal or disposals to which section 257R(3) applies, disposed of all investments which—

(a)

have been made by the investor in the social enterprise, and

(b)

are investments—

(i)

to which SI relief is attributable, or

(ii)

have not been held by the investor until the end of the third anniversary of the date on which they were made.

(3)

No assessment for withdrawing or reducing SI relief in respect of those investments may be made because of any subsequent event unless the event occurs at a time when the requirements of sections 257LF, 257LG and 257LH are not met in relation to the investor by reference to any of those investments.